Charles Wilson is evaluating two new business opportunities. Each of the opportunities shown below has a 15-year life. Charles uses a 12% discount rate. Option 1 Option 2 Equipment purchase and installation $70,700 $81,280 Annual cash flow $27,000 $29,330 Equipment overhaul in year 6 $4,820 Equipment overhaul in year 8 $6,200 Click here to view the factor table. (a) Your answer is correct. Calculate the net present value of the two opportunities. (Round present value factor calculations to 4 decimal places, e.g. 1.2514 and the final answers to O decimal places, e.g. 59,991.) (b) Option 1 Option 2 110752 Net present value eTextbook and Media 115980 Your answer is partially correct. Calculate the profitability index of the two opportunities. (Round answers to 2 decimal places, e.g. 15.25.) Option 1 Profitability Index eTextbook and Media Save for Later 2.63 Option 2 2.38 Attempts: 1 of 3 used Assistance Used Attempts: 2 of 3 used Submit