Morrisey Company has two investment opportunities. Both investments cost $5,500 and will provide the same total future cash inflows. The cash receipt schedule for each investment is given below:

Investment IInvestment II

Period 1$1,250$1,250

Period 21,2502,300

Period 32,2503,350

Period 44,4002,250

Total$9,150$9,150

What is the net present value of Investment II assuming an 9% minimum rate of return?Use AppendixTable 1.(Do not round your intermediate calculations. Round your answer to nearest whole dollar.)

a. $7,263

b. $9,150

c. $1,763

d. $(7,053)