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 12 percent after-tax discount rate. Investment Proposal Mall restaurant Downtown restaurant Cash Outflow: Net After-Tax Cash Inflows Time 0 $453,000 205,500 Years 1-10 $64,000 40,000 Years 11-20 $64,000 *Includes after-tax cash flows from all sources, including incremental revenue, incremental expenses, and depreciation tax shield. ces Use Appendix A for your reference. (Use appropriate 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 Compute the net present value of each alternative restaurant site. (Round your final answers to the nearest dollar.) Net Present Value Mall restaurant Downtown restaurant Required 1 Required 2 >