Three bidders for a satellite system have given the following offers:First payment:                   $100m at the startSecond Payment:              $250m at the beginning of second yearThird payment:                  $250m at the end of third yearFinal payment:                   $400m on completion at the end of 4year.First payment:                   $ 200m at the startSecond Payment:              $ 250m at the end of second yearThird payment:                  $ 250m at the end of third yearFinal payment:                   $ 300m on completion at the end of 4year.Bidder CFirst payment:                   No payment at startSecond Payment:              $300m at the beginning of second yearThird payment:                  $200m at the beginning of third yearFinal payment:                   $500m on completion at the end of 4year.All three bidders have been assessed to be technically compliant.a) Assuming 8% discount +inflation rate, which bidder will you recommend to your management?b) The annual operations &maintenance after completion is estimated to be $40 million, payable at the end of each year and with 5% annual increase thereafter.Your customer has committed to pay $250 million annually at the end of the each year after completion, with the first payment at the end of 5year from start and with 5% annual increase thereafter. The discount + inflation rate is still 8%.For the best bidder, calculate the NPV until it becomes positive.