Joseph Moore is evaluating two new business opportunities. Each of the opportunities shown below has a 15-year life. Joseph uses a 12% discount rate. Option 1 Option 2 Equipment purchase and installation $71,700 $ 82,490 Annual cash flow $ 27,100 $ 29,460 Equipment overhaul in year 6 $ 4,960 Equipment overhaul in year 8 $ 6,140 Click here to view the factor table. (a) Calculate the net present value of the two opportunities. (Round present value factor calculations to 4 decimal places, e.g. 1.2514 and the final answers to O decimal places, e.g. 59,991.) Option 1 Option 2 $ Net present value (b) Calculate the profitability index of the two opportunities. (Round answers to 2 decimal places, e.g. 15.25.) Option 1 Option 2 Profitability Index e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c). Which option should Joseph choose? Joseph should choose eTextbook and Media Save for Later Attempts: 0 of 3 used Submit