The owner of Waco Waffle House is considering an expansion of the business. He has identified two alternatives, as follows: Build a new restaurant near the mall. Buy and renovate an old building downtown for the new restaurant. The projected cash flows from these two alternatives are shown below. The owner of the restaurant uses a 6 percent after-tax discount rate. Investment Proposal Mall restaurant Downtown restaurant Cash Outflow: Time @ $872,800 337,500 Net After-Tax Cash Inflows Years 1-10 Years 11-20 $78,580 $78,580 49,000 * Includes after-tax cash flows from all sources, including incremental revenue, incremental expenses, and depreciation tax shield. Use Appendix A for your reference. (Use approprlate factor(s) from the tables provided.) Required: 1. Compute the net present value of each alternative restaurant site. 2. Compute the profitability index for each alternative. 3. How do the two sites rank in terms of NPV and the profitability index? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How do the two sites rank in terms of NPV and the profitability index? Profitablility Index NPV Mall restaurant Downtown restaurant