Merryll. Inc., is considering three different investments involving depreciable assets with no salvage value. The following data relate to these investments: mk6

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Expected Before-Tax Net Expected After-Tax Net Cash Inflow Expected Life of Proposal (years) Initial Cash Cash Inflow Investment 1 2 Outlay per Year $140,000 $37,333 240,000 72,000 3 360,000 89.333 per Year $28,000 10 48,000 20 68,000 10 The income tax rate is 40%. Management requires a minimum return on investment of 12%. Rank these proposals using the following selection techniques: a. Payback period. b. Unadjusted rate of return. c. Profitability index. d. Time-adjusted rate of return.