Morrisey Company Has Two Investment Opportunities The Net Present Value of Investment II Assuming an 8

Morrisey Company has two investment opportunities. Both investments cost $5,500 and will provide the same total future cash inflows. The cash receipt schedule for each investment is given below: $$\begin{array} { | l | c | c | } \hline & \text { levestment I } & \text { lovestment II } \\\hline \text { Penod 1 } & \$ 1,000 & \$ 1,000 \\\hline \text { Penod 2 } & 1,000 & 2,000 \\\hline \text { Penod 3 } & 2,000 & 3,000 \\\hline \text { Penod 4 } & 4,000 & 2,000 \\\hline \text { Total } & \$ , 000 & \$ 8 , 000 \\\hline & & \\\hline\end{array}$$ The net present value of Investment II assuming an 8% minimum rate of return would be which of the following amounts? (Do not round your PV factors and intermediate calculations. Round your answer to nearest whole dollar.)

A) $6,492
B) $992
C) $5,880
D) $380