Waterloo North Hydro has two options for upgrading a geothermal power station to meet new government standards. Option 1: Waterloo North Hydro will make the upgrades themselves. This is expected to cost $11,400 at the end of every six months for 15 years. At the end of the operation (in 15 years) Waterioo North Hydro expects to sell all equipment needed for the upgrade for $99,000. Option 2: Pay experienced contractors. This will cost $46,000 up front and $11,000 semiannually (at the end of every six months) for 14 years. Assume all interest is 2.19% compounded semi-annually. Round the answers to NPV (Option 1), and NPV (Option 2) to the nearest dollar. Round all other answers to two decimal places where applicable. 1) Find the net present value of option 1 : (If the NPV is negative, enter it as a negative number. If the NPV is zero, enter 0 .) NPV (Option 1) =1 (rounded to the nearest whole number)