This is your first week on the job as a financial analyst at Wabash Industries. Your manager, Sandra Jones, Assistant Treasurer, just assigned you a project. Wabash Industries wishes to sell its plant in Lafayette, Indiana. Wabash has received two offers as follows: Parthenon Industries $50,000,000 cash at closing Micro Enterprises $20,000,000 cash at closing, with additional payments as follows: End of Year 1 $ 8,000,000 End of Year 2 $ 9,000,000 End of Year 3 $10,000,000 End of Year 4 $11,000,000 End of Year 5 $12,000,000 Your manager asks you to evaluate each offer, using the time value of money, and a discount rate of 10%. She asks you to recommend which offer Wabash should accept, from a purely financial point of view. ED memorandum to Sandra Jones, which memo: Starts with a statement of purpose Explains the concept of the time value of money Presents the present value of each offer, and the method used to calculate it (discounting future cash flows to present value) Recommends which offer Wabash should accept Do not show any actual calculations in the memo, but attach them on a following page labelled "Calculations