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A local sports franchise playing in a major league has great plans for Alberta. By taking advantage of an economic exuberance era, it has requested

A local sports franchise playing in a major league has great plans for Alberta. By taking advantage of an economic exuberance era, it has requested construction firms to submit proposals for the construction of a brand-new stadium. In fact, three construction bids have been received for that endeavor. The following information is provided below.
Interest Rate (APR)4.15% compounded daily
Proposed Construction Bids 123
Construction Schedule (End-of-Period Values)
Months 1 to 10 $11,364,380 $12,565,500 $13,740,350
Month 11 $24,657,750 $10,450,740 $20,650,400
Month 12 $32,645,500 $34,650,780 $37,750,960
Months 13 to 26 $47,840,640 $39,504,000 $40,650,980
Months 27 to 36 $12,565,900 $13,880,450 $3,565,450
A.In light of the information above, compute the applicable harmonized effective rate (note: please consider that a month has thirty days).
B. In light of the information above, compute the present value of the three construction bids. Which one should be chosen?

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