Fred and Barney Need some investment advice and you have beenasked to evaluate their offers. Fred is looking at a investmentthat would pay him nothing until five years from today and then hewould receive $40,000 every six months for ten years (20 payments)with the first payment of $40,000 coming five years from today. Hethen would receive $100,000 every year for ten years with first ofthese coming six months after his last payment of $40,000. Finallyhe would receive two payments of $500,000 with the first of thesecoming six months after the last payment of $100,000 and the secondcoming five years after the first payment of $500,000. Theinvestment would cost him $725,000 today. Barney's investment willpay him $25,000 every year for thirty years with the first of thesepayments coming six months from today. He also would receive@120,000 every five years for the next fifty years with the firstof these coming five years from today and the last coming fiftyyears from today. Finally he would receive $2,500,000 forty yearsfrom today and another $2,500,000 fifty years from today. Hisinvestment would cost him $690,000 today. Using present valuemethod and assuming that they have an opportunity cost of8%(semi-annual), should they invest? SHOW ALL WORK USING FORMULASAND USE FINANCIAL CALCULATOR!