63. Bullets Format: Apple Inc. is considering investing in a new iPhone manufacturing facility. The company is evaluating three options:

• Option A: Invest $1 billion in building a new facility.
• Option B: Expand an existing facility with a capital expenditure of $800 million.
• Option C: Partner with a manufacturing contractor and pay an annual fee of $200 million for ten years.

Calculate the net present value (NPV) for each option using a discount rate of 8%.