Morrisey Company has two investment opportunities. Both investments cost $6,200 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		$	1,600				$	1,600
Period 2			1,600					2,720
Period 3			2,600					3,840
Period 4			4,960					2,600
Total		$	10,760				$	10,760

What is the net present value of Investment II assuming an 8% minimum rate of return? Use Appendix Table 1. (Do not round intermediate calculations. Round your answer to nearest whole dollar.)

Multiple Choice

• $8,773

• $10,760

• $2,573

• $(8,563)