Golden Finance Ltd is a small investment company. It is looking for financial assets to add to its investment for 2023. As an investment officer of Golden Finance, you are interested in the following assets:

• A preferred share issued by Apple Company, which pays a fixed dividend rate of 13%, face value of $100.
• A non-callable bond issued by Orange Company, which pays 9% coupon rate semi-annually, with face value $1000. The bond will mature in 20 years and has a yield to maturity of 8%.

The Company Management also requested you to evaluate two mutually exclusive investment portfolios with the following cash flows to recommend one for the next year's investment:

Year	Portfolio A ($)	Portfolio B($)
2022- Initial Investment	70,000	80,000
Future cash flow
2023	25,000	35,000
2024	30,000	40,000
2025	40,000	50,000
2026	45,000	55,000

Required:

1. Compute the current value of Apple Company's preferred share, given the rate of return for the same type of shares in the same industry is 12%

2. Compute the current value of the Orange Company's non-callable bond.

3. Recommend to Golden Finance's Management which portfolio it should accept, using a rate of return of 14%, applying the profitability index NPV criterion.