Quint Tools is interested in a self insurance plan for their 2022-2023 Workers Compensation policy. They are deciding whether it is a wise decision by comparing it to Guaranteed Cost. Annual Guaranteed Cost Premium is $1,600,000 where Quint's Risk Manager estimates $1,120,000 (or 70%) for claim payments and the remaining $480,000 (or 30%) for fixed costs which follow this payout schedule for the next 5 years: Payout Year Payout % Undiscounted Payout Amount Year 1 28% $793,600 Year 2 18% $201,600 Year 3 21% a. Year 4 20% b. Year 5 13% C. Total 100% Please answer each of the following. a. __ (1 pt) b. (1 pt) C. (1 pt) d. Given a 6% cost of capital, what is the Net Present Value of this decision and how much higher or lower is self insurance when compared to the Guaranteed Cost and whether you should choose self insurance? (4 pts)