6 of 9 Dustin's hair salon is considering buying airtime for a television commercial to spread the word about their services and get clients during non-peak hours. Alternatively, they could invest in a cheaper newspaper ad campaign. They forecasted the following cash flows for the two options: Television: Investment of $7,000 would increase profits by $5,800 in the 1st year and $4,700 in the 2nd year. Newspaper: Investment of $1,250 today would increase profits by $1,300 in the 1st year and $750 in the 2nd year. The cost of capital is 15.00%. a. By calculating the Net Present Value (NPV) of each investment, determine which option is better? a. Television O b. Newspaper b. By how much is the profit of the better investment greater than the other investment? Round to the nearest cent