Unequal lives$-$ANPV approach JBL Co$.$ has designed a new conveyor system. Management must choose among three alternative courses of action: $(1)$ The firm can sell the design outright to another corporation with payment over $2$ years. $(2)$ It can license the design to another manufacturer for a period of $5$ years, its likely product life. $(3)$ It can manufacture and market the system itself; this alternative will result in $6$ years of cash inflows. The company has a cost of capital of $12\mathrm{.}4\%.$ Cash flows associated with each alternative are as shown in the following table. $($Click on the icon here in order to copy the contents of the data table below into a spreadsheet.$)$

Alternative

Initial investment $($CFO$)$

Year $($t$)$

$1$

$2$

Sell

$$200,200$

License

$$200,100$

Cash inflows $($CF$)$

$$199,600$

$$250,200$

$$199,200$

$251,000$

$99,800$

Manufacture

$$449,000$

$245,000$

a$.$ The net present value for the option to sell is $ $($Round to the nearest cent.$)$

A