imagine that you have received a request for proposal (RFP #123456789), dated 07/14/2014. You also find out through a reliable source that a local competitor has also received an RFP for a similar type of product and service. Because of this, you will be required to negotiate the contract, and will need to consider the contract specifics.Write a 3-4 page paper in which you do the following:Suggest three ways in which the basic concepts of the FAR Policy would mutually benefit your small business and the Navy.Determine the method that you will use for solicitation of a bid. Next, explain why the Navy is likely to choose your company in the sealed-bidding process.Go to the Strayer University Online Library to locate at least 3 three quality references. Note: Wikipedia and other related websites do not qualify as academic resources. Reference: https://www.gsa.gov/policy-regulations/regulations/federal-acquisition-regulation-farYour assignment must follow these formatting requirements:This course requires use of new Student Writing Standards (SWS). The format is different from other Strayer University courses. Please take a moment to review the SWS documentation for details.Be typed, double-spaced, using Times New Roman font (size 12), with 1-inch margins on all sides; citations and references must follow SWS or school-specific format. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. Break your paper into sections with titles and subtitles representative of the rubric questions and fully answer the questions.The specific course learning outcomes associated with this assignment are as follows:Explain the government acquisition process using sealed bidding, negotiations, and alternative contracting methods.Describe the various types of contracts and the considerations for their use.Outline and explain the process for developing competitive proposals and source selection.Write clearly and concisely about federal acquisition and contract management using proper writing mechanics.