Drinkwater Company has a choice of two investment alternatives. The present value of cash inflows and outflows for the first altermative is $88,000 and $81,300, respectively. The present value of cash inflows and outflows for the second altemative is $226,000 and $218,100, respectively. Required a. Calculate the net present value of each investment opportunity Net Present Value Alternative 1 Alternative 2 b. Calculate the present value index for each investment opportunity, (Round your answers to 2 decimal places.) Present Value Index Alternative 1 Alternative 2 c. Indicate which investment will produce the higher rate of return Alternative 1 Alternative 2