Development Consortium is preparing to open a new retail strip mall and have multiple businesses that would like lease space in it. Each business will pay a fixed amount of rent plus a percentage of the gross sales generated each year. The cash flows from each of the businesses has approximately the same amount of risk. The business names, annual expected cash flows, and initial capital outflow for each of the businesses that would like to lease space in the strip mall are provided below. Development Consortium uses a 12% hurdle rate which is its cost of capital. All business will be evaluated based on 4-year term because the contract will expire in four years.

	Video Now	Apple Garden	Croger Mart	Horizon Wireless
Initial Capital Outlay	($200,000)	($298,000)	($248,000)	($272,000)
Annual Net Cash Flows
Year 1	65,000	100,000	80,000	95,000
Year 2	70,000	135,000	95,000	125,000
Year 3	80,000	90,000	90,000	90,000
Year 4	40,000	65,000	80,000	60,000
NPV ($)
PI (times)
IRR (%)

4. Which business(es) should Greater Findlay undertake during the upcoming year if it has only $300,000 of capital funds available? Make sure to juastify your answer.