Michael Jones is evaluating two new business opportunities. Each of the opportunities shown below has a 15-year life. Michael uses a 12% discount rate. Equipment purchase and installation Annual cash flow Equipment overhaul in year 6 Equipment overhaul in year 8 Option 1 $71.700 $28.200 $4.750 Option 2 $82.540 $30.690 $6.060 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 0 decimal places, e.g. 59,991.) Option 1 Option 2 Net present value $