Harry Inc. is negotiating to purchase exclusive rights to manufacture and market a solar-powered toy car. The car's inventor has offered Harry Inc. the choice of either a one-time payment of $1,500,000 today or a series of 8 payments of $450,000 made at the beginning of every year. a. If Harry Inc. has a cost of capital of 10%, which form of payment should the company choose? [2.5] b. What yearly payment would make the two offers identical in value at a cost of capital of 10%? [2.51 c. Would your answer to part a of this problem be different if the yearly payments were made at the end of each year? Show what difference, if any, that change in timing would make to the present value calculation. [2.5] d. The after-tax cash inflows associated with this purchase are projected to amount to $250,000 at the end of every year for 20 years. Assuming a cost of capital of 10%, will this factor change the firm's decision about how to fund the initial investment? [2.5]