Two proposals on parking infrastructure are to be evaluated by a local council in Sydney. The first proposal recommends on street parking with no capital cost but annual cost of $500 for enforcement and maintenance starting from the end of first year. The second proposal recommends off-street parking with a capital cost of $2,000 and maintenance cost of $200 starting from the end of the first year. Both proposals would give a yearly benefit of $600. The project life period is 10 years. Assuming a 50% chance of a discount rate of 4% and 50% chance of a discount rate of 9% answer the following questions (final answers should have 2 decimal places and no unit is required) 1. What is the net present value for the first proposal given a discount rate of 4%? (4 points) 2. What is the net present value for the first proposal given a discount rate of 9%? (4 points) 3. What is the expected net present value for the first proposal? (4 points) 4. What is the net present value for the second proposal given a discount rate of 1%? (4 points) 5. What is the net present value for the second proposal given a discount rate of g? (4 points) 6. What is the expected net present value for the second proposal? (4 points)