Semester Case - Cowboy Ice Cream, Inc. (CIC) As we've examined in prior class periods, CIC is currently considering expanding operations. The rst expansion planwhich we've worked on in a previous classcalls for the purchase of a physical location, remodeling of that location, and purchase of a freezer. The freezer would cost $4,289, have an estimated useful life of 7 years, and have a salvage value of $300. Purchase of the freezer would allow CIC to use the new building as a retail space. In addition to that opportunity, CIC is also considering purchasing the building, but using it only as a center of operations (rather than as retail space). As a result, CIC would remodel the space, but purchase of the freezer would not be necessary. Instead, CIC would purchase a small ice cream stand. The stand would cost $7,000, have an estimated useful life of 7 years, and have no salvage value. Both options would require additional working capital of $500, which will be recovered at the end of the life of each option. Assume that ClC's cost of capital is 8%. Details about the operating cash flow for each year are below. Purchase Purchase -- Compute the following for each option: 1. Net present value