Check my work Franklin Delivery is a small company that transports business packages vans that moves packages to and from a central depot within each city and uses a common carrier to deliver the packages between the depots president, George Hay, Is trying to identify the most profitable way to invest these funds between New York and Chicago. It operates a fleet of small in the two cities. Franklin ately $6.8 million of cash capital from its owners, and its Payne, the company's operations manager, believes that the money should be used to expand the fleet of city vans at a cost of $680,000. He argues that more vans would enable the company to expand its services into new markets, thereby increasing the revenue base. More specifically, he expects cash inflows to increase by $260,000 per year. The addlitional vans are expected to have an average useful life of four years and a combined salvage value of $108,000. Operating the vans will equire additional working capital of $43,000, which will be recovered at the end of the fourth year In contrast, Oscar Vance, the company's chief accountant, believes that the funds should be used to purchase large trucks to deliver the packages between the depots in the two cities. The conversion process would produce continuing improvement in operating savings and reduce cash outflows as follows $153,000 $328,000 $403,000 $433,000 The large trucks are expected to cost $760,000 and to have a four year useful life and a $88.000 salvege value. In addition to purchase price of the trucks, up-front training costs are expected to amount to $11,000. Franklin Delivery's management has established a 14 percent desired rate of return. (PV of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.) Required a&b. Determine the net present value and present value index for each investment altrnative. (Negative amounts should be indicated by a minus sign. Round your intermediate calculations and final answers to 2 decimal places) rchase of City Purchase of Trucks 2 (PVI)