Unequal lives--ANPV approach JBL Co has designed a new conveyor system Management must choose among three alternative courses of action: (1) The firm can sell the design outright to another corporation with payment over 2 years (2) It can license the design to another manufacturer for a period of 5 years, its likely product life (3) It can manufacture and market the system itself, this alternative will result in 6 years of cash inflows. The company has a cost of capital of 12.3%. Cosh flows associated with each alternative are as shown in the following table. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet) Alternative Initial investment (CF) Year (0) Sell $199,500 1 2 $200,100 251,000 OWN License Manufacture $199,700 $449,600 Cash inflows (CF) $249,100 $199,400 101,000 250,000 80,100 199,400 59,400 199,400 39,900 199,400 199,400 4 5 6 111 a. The net present value for the option to sell is S tour33. Round to the nearest cent.) The net present value for the option to license is $ 22 Round to the nearest cent.) The net present value for the option to manufacture is $ (Round to the nearest cent.) Rank the projects below. (Select from the drop-down menus.) First: Option to manufacture Second: Option to license Third: Option to sell b. The ANPV for the option to sell is $ 1 (Round to the nearest cent.) The ANPV for the option to license is $ 6. (Round to the nearest cent.) The ANPV for the option to manufacture is $ 1 O. (Round to the nearest cent.) Rank the projects below. (Select from the drop-down menus.) First: Option to sell Second: Option to manufacture Third: Option to license