The following cash flows represent three different mutually exclusive options related to a property you acquired one year ago for five million dollars. If other opportunities exist for the investment of capital at ini = 10% (constant minimum ROR) per year which option would you select? Please use ROR, and verify your conclusions with NPV and PVR analysis. All cash flows are in thousands of constant dollars. Inflation is expected to be 5.25% every year. Cash Flows: 9,000 1 8,500 2 7,500 3 6,500 4 A) Development -5,000 12,000 -1 0 B) Development -5,000 -23,000 -1 5,500 5 4,500 6 12,000 1 10,500 2 9,000 3 7,500 4 6,000 6 6,000 2 6,000 8 c) Development -5,000 +35,000 -1 0 6,500 5 NO 8,500 5 -5,000 1 10,000 2 9,500 3 9,000 4 8,000 6 7,500 7 7,000 8 6,500 9 The following cash flows represent three different mutually exclusive options related to a property you acquired one year ago for five million dollars. If other opportunities exist for the investment of capital at ini = 10% (constant minimum ROR) per year which option would you select? Please use ROR, and verify your conclusions with NPV and PVR analysis. All cash flows are in thousands of constant dollars. Inflation is expected to be 5.25% every year. Cash Flows: 9,000 1 8,500 2 7,500 3 6,500 4 A) Development -5,000 12,000 -1 0 B) Development -5,000 -23,000 -1 5,500 5 4,500 6 12,000 1 10,500 2 9,000 3 7,500 4 6,000 6 6,000 2 6,000 8 c) Development -5,000 +35,000 -1 0 6,500 5 NO 8,500 5 -5,000 1 10,000 2 9,500 3 9,000 4 8,000 6 7,500 7 7,000 8 6,500 9