New Competition The firm "Family Park" is a family owned business that includes a water park,pich playground for children. Family Park, a local business for 40 years, is the only out the community. Local zoning laws have "grandfathered" the firm's structure, meani has not been required to update its facilities to meet code. The firm hired an outsider CFO five years ago when the family decided it needed someone with finance experien the firm's financial growth. At this point, the firm undertook an IPO to obtain financing expand and add an indoor facility for meetings, buy more land for future expansion in community was incurring new housing and retail development. Park, picnic area and a the only outdoor park in cture, meaning the firm an outsider to be the hance experience to guide expansion since the Now, a new state law requires the firm to update its facilities - at considerable expense. A outside firm has notified the planning commission of its intent to build an amusement pars nearby. This will provide competition to the Family Park which will impact market share, growth and profits. The firm has four options 1. continue business as is expand to add more services sell to the owners of the proposed amusement center 4. close clos Given the above, what should the family consider on the four options? For example, there will be a substantial cost for updating the park if it remains a viable business. What financial impact do you think each decision will have on the business