2. The City of Winnipeg has received two different offers to purchase a parcel of real estate in the southeast quadrant of the city. The Qualico Group has bid $12 million today, along with annual payments of $5 million for the first two yars and $6 million in the subsequent two years. The Genstar Development Company has bid $7.5 million today, along with $8 million after one year and three subsequent annual payments of $7 million. If the prevailing interest rates