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 $ 70,700 $81,280 $ 27,000 $ 29,330 Equipment purchase and installation Annual cash flow Equipment overhaul in year 6 Equipment overhaul in year 8 $4,820 $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 1 decimal places, es. 1.2514 and the final answers to o decimal places, e.. 59,991.) Option 1 Option 2 Net present value $ eTextbook and Media Save for Later Attempts: 1 of 3 used Submit Answer (b) Your answer is incorrect. Calculate the profitability index of the two opportunities. (Round answers to 2 decimal places, c.8. 15.25.) Option 1 Option 2 Profitability Index