ITC is a small technology company that develops financial technology (FinTech) applications for mobile devices. The company is selling one of its highly-rated FinTech apps to a financial institution. The financial institution has proposed the following strategic payment options for ITC's consideration: Strategy 1: An immediate payment of Tk. 1.2 million followed by payments of Tk. 50,000 at the end of each quarter during the next five years. Strategy 2: Payment of Tk. 55,000 at the beginning of each month for the next five years. ITC's required rate of return is 25% per annum. Required: (1) Identify the type of cash flow pattern described under each option. (11) Compute the present value of the cash flows for each strategy and advise ITC on the best payment option.