1.HoundWorks Consulting is considering an expansion into York County, Pennsylvania and has identified two possible locations for offices:1) a suburb of York or 2) York City center.The annual cost of the lease for office space, along with the annual cash flows generated by each location is provided in the following table.Management has determined that the cost of capital for each location is 15.5 percent and the appropriate cutoff is 3 years when applying the payback period.