Dartford Corporation is evaluating four different real estate investments. Management plans to buy the properties today and sell them three years from today. The annual discount rate for these investments is 15 %

15%. The following table summarises the initial cost and the sale price in three years for eachproperty:

Cost Today

Sale Price in Year 3

Parkside Acres

$ 560 000

$560000

$ 960 000

$960000

Precipice Estates

980 000

980000

1 580 000

1580000

East Lake Properties

550 000

550000

950 000

950000

Oceanview

210 000

210000

410 000

410000

Dartford has a total capital budget of $ 770 000

$770000 to invest in properties. Which properties should itchoose?