Fanning Delivery is a small company that transports business packages between New York and Chicago. It operates a fleet of small vans that moves packages to and from a central depot within each city and uses a common carriet to deliver the packages between the depots in the two cities. Fanning Delivery recently acquited approximately $6.9 million of cash capital from its owners, and its president, George Hay, is trying to identify the most profitable way to invest these funds: Todd Payne, the company's operations manager, believes that the money should be used to expand the fleet of city vans at a cost of $670,000. 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 $330,000 per year. The additional vans are expected to have an average useful life of four years and a combined salvage value of $97,000. Operating the vans will require additional working capital of $33,000, which will be recovered at the end of the fourth yeat. In contrast, Oscar Vance, the company's chief accountant, believes that the funds should be used to purchase large trucks to deilver 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 The large trucks are expected to cost $750,000 and to have a four-year useful Me and a $75,000 saivage value. In addition to the purchase price of the trucks, up-front training costs are expected to amount to $16,000. Fanning Delivery's management has established a 12 percent desired rate of return, (PV of St and PVA of Si) (Use appropriate factor(s) from the tobles provided.) Required 0.8b. Determine the net present value and present value index for each investment alternative (Round your intermediote colculations and final answers to 2 decimal places. Enter your answer in whole dollars and not in millions.) TABLE2 PRESENT VALUE OF AN ANNUITY OF $1 TABLE1 PRESENTVALUE OF S1