New Med Corporation is rapidly growing biotech company that has a required of return of 14 % plans to to complete. The building contractor offered New Med a choice of payment plans, as follows:

New Med Corporation is a rapidly growing biotech company that has a required rate of retum of 14%. It plans to build a new facility in Halifax, NS. The building will take two years to complete. The building contractor offered New Med a choice of three payment plans, as follows: (Click the icon to view the data.) (Click the icon to view the present value table.) (Click the icon to view the present value annuity table.) Required Requirement 1. Using the NPV method, calculate the comparative cost of each of the three payment plans being considered by the company. The net present value cost of Plan I is $. The net present value cost of Plan II is $ The net present value cost of Plan III is $. Requirement 2. Which payment plan should the company choose? Explain. Based on the financial criteria, New Med should choose since it has the net present value cost. Requirement 3. Discuss the financial factors other than the cost of the plan and the nonfinancial factors that should be considered in selecting an appropriate payment plan. Begin by selecting two financial factors that should be considered in selecting an appropriate payment plan. More Info Now select two nonfinancial factors that should be considered in selecting an appropriate payment plan. Plan 1 Payment of $200,000 at the time of signing the contract and $4,700,000 upon completion of the building. The end of the second year is the completion date. Plan || Payment of $1,750,000 at the time of signing the contract and $1,750,000 at the end of each of the two succeeding years. Plan III Payment of $450,000 at the time of signing the contract and $1,700,000 at the end of each of the three succeeding years. Choose from any drop-down list and then continue to the next