Your answer is partially correct. Try again. Assume that Wal-Mart Stores, Inc. has decided to surface and maintain for 10 years a vacant lot next to one of its stores to serve as a parking lot for customers. Management is considering the following bids involving two different qualities of surfacing for a parking area of 12,000 square yards. the end of 5 years. The annual maintenance cost on this surface estimated at 25 cents per square yard for each year except the last year of its service. Bid A: A surface that costs $5.75 per square yard to install. This surface will have to be replaced The replacement surface will be similar to the initial surface. Bid B: A surface that costs $10.5 per square yard to install. This surface has a probable useful life of 10 years and will require annual maintenance in each year except the last year, at an estimated cost of 9 cents per square yard. Click here to view factor tables Compute present value of the bids. You may assume that the cost of capital is 9%, that the annual maintenance expenditures are incurred at the end of each year, and that prices are not expected to change during the next 10 years. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to o decimal places, e.g. 458,581.) Present value of outflows for Bid A Present value of outflows for Bid B Which bid should be accepted by Wal-Mart. Wal-Mart should accept Bid A Click if you would like to Show Work for this question: Open Show Work