Kirkland Monitors Inc. owns a piece of vacant land. It can expand its factory into the vacant land. The NPV of the expansion project is $500,000. It can also sell the vacant land for $700,000, net of all commission and costs related to the sale. Applying the concept of opportunity cost, which action would you recommend?
a. Either selling the land or expanding the factory, they both benefit the company
b. None of the other options
c. Expand its factory into the vacant land
d. Sell the vacant land