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Daryl Kearns saved $230,000 during the 25 years that he worked for a major corporation. Now he has retred at the age of 50 and thas begun to draw a comfontable pension check every month. He wants to ensure the financial security of his retirement by investing his savings wisely and is currently considerhig two investment opportunities. Both irwestments require an intidal poyment of $186.500 The following table presents the estimated cash inflows for the two alternatives: Mc. Kearns decides to use his past average return on mutual fund investments as the discount rate; it is 9 percent. (pV of $1 and PVA of S1) (Use oppropriate factor(s) from the tables provided.) Required a. Compute the net present value of each opportunity. Which should Mr Kearns adopt bosed on the net present value approach? b. Compute the paybuck period for each project. Which should Mr Kearns adopt based on the puyback approach? Complete this question by entering your answers in the tabs below. Compute the net present value of each opportunity. Which should Mr. Keams adopt based on the net present value approach? (Round your intermediate calculations and final answer to two decimal plices.) Daryl Kearns saved $230.000 during the 25 years that he worked for a major corporaton. Now he has retired at the age or 50 and has begun to draw a comfortable pension check every month. He wants to ensure the financlal security of tils retirement by investing his savings wisely and is currently considering two investment opportunities. Both investments require an initial payment of $186.500 The following table presents the estimoted cash inflows for the two altematives Mr. Kearns decides to use his past average return on mutual fund imvestments as the discount rate: it is 9 percent. (PV of $1 and pVA of \$1) (Use appropriate factor(s) from the tables provided.) Required a. Compute the net present value of each opportunity. Which should Mr. Keams adopt based on the net present value approach? b. Compute the payback period for each project. Which should Mr. Keams adopt based on the payback approach? Complete this question by entering your answers in the tabs below. Compute the payback period for each opportunity. Which should Mr. Kearns adopt based on the payback approach