Morrisey Company has two investment opportunities. Both investments cost $5,000 and will provide the same total future cash inflows. The cash receipt schedule for each investment is given below:

	Investment I						Investment II
Period 1		$	1,000					$	1,000
Period 2			1,000						2,000
Period 3			2,000						3,000
Period 4			4,000						2,000
Total		$	8,000					$	8,000

What is the net present value of Investment II assuming an 10% minimum rate of return? Use Appendix Table 1. (Do not round your intermediate calculations. Round your answer to nearest whole dollar.)

Multiple Choice

• $3,416

• $1,182

• $6,182

• $(3,415)