Wardrobe Clothing Manufacturers is preparing a strategy for the fall season. One strategy is to go to a highly imaginative, new, four-gold-button sports coat. The all-wool product would be available for males and females. A second option would be to produce a traditional blue blazer line. The marketing research department has determined that the four-gold-button and traditional blue blazer lines offer the following probabilities of outcomes and related cash flows: New Coat Present value of cash flow Expected sales Probability from sales Fantastic 0.2 $186,000 Moderate 0.6 187,000 Dismal 0.2 85,500 Blue Blazer Present value of cash flow Probability from sales 0.5 $341,000 0.2 326,000 0.3 0 The initial cost to get into the new coat line is $120,000 in designs, equipment, and inventory. To enter the blue blazer line, the initial cost in designs, inventory, and equipment is $180,000. a. Calculate Net present value. (Negative answers should be indicated by a minus sign.) Enter New Coat Market Enter Blazer Market Net present value $ $ $ b. This part of the question is not part of your Connect assignment