Basic Net Present Value Analysis, Competing Projects Kildare Medical Center, a for-profit hospital, has three investment opportunities: (1) adding a wing for in-patient treatment of substance abuse, (2) adding a pathology laboratory, and (3) expanding the outpatient surgery wing. The initial investments and the net present value for the three alternatives are as follows: Investment NPV Substance Abuse $1,500,000 216,000 Laboratory $500,000 140,000 Outpatient Surgery $1,000,000 135,000 Although the hospital would like to invest in all three alternatives, only $1.5 million is available. Required: 1. Rank the projects on the basis of NPV, and allocate the funds in order of this ranking. If a blank requires an entry of zero, it can be left blank or answered with a "0". Ranking Allocation Project Substance abuse wing Laboratory Outpatient surgery wing What project or projects were selected? What is the total NPV realized by the medical center using this approach?