corporation, expected to pay annual dividends of 8 percent. Investment B is stock of an S corporation. Based on income projections, Marla's share of the S corporation's ordinary income would be approximately $10,000 per year. However, the S corporation does not expect to make cash distributions for the foreseeable future. Marla would hold either investment for three years, at which time she believes the C corporation stock could be sold for $60,000 and the S corporation stock could be sold for $90,000. Assume that the initial investment would be made in year 0 , dividends on the C corporation stock would be received in years 1,2 , and 3; S corporation earnings would be allocated in years 1, 2, and 3 ; and either investment would be sold in year 3 . Assume that Marla's S corporation income would not qualify for the QBI deduction. Also assume that Marla's marginal tax rate on ordinary income is 35 percent. Use Appendix A. Required: a. Using a 4 percent discount rate, calculate the net present value of after-tax cash flows attributable to either investment. Assume a 15% rate on capital gains and dividends. b. Which investment she should choose? Complete this question by entering your answers in the tabs below. Using a 4 percent discount rate, calculate the net present value of after-tax cash flows attributable to either investment. Assume a 15% rate on capital gains and dividends. Use appropriate factors from the Appendix A. Note: Negative amounts should be indicated by a minus sign. Round intermediate calculations to the nearest whole dollar amount