It is the beginning of September and you have been offered the following deal to go$$ heli$-$skiing. If you pick the first week in January and pay for your vacation$$ now, you can get a week of$$ heli$-$skiing for $ $3$ comma $300.$However$,$ if you cannot ski because the helicopters cannot fly due to bad$$ weather, there is no$$ snow, or you get$$ sick, you do not get a refund. There is a $40\%$ probability that you will not be able to ski. If you wait until the last minute and go only if you know that the conditions are perfect and you are$$ well, the vacation will cost you $ $5$ comma $500.$ You estimate that the pleasure you get from$$ heli$-$skiing is worth $ $6$ comma $700$ per week to you$($if you had to pay more than$$ that, you would choose not to$$ go$).$ If your cost of capital is $12\%$ per$$ year, should you book ahead or$$ wait?$$

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Part $1$

You should

$$

wait

book ahead

because the NPV of this choice is $$$

$$

enter your response here. $($Round to two decimal$$ places.$)$