12. 6.38 You are considering five projects, all of which can be considered to last indefinitely. If the MARR is 15% per year, determine which should be selected if they are

(a) independent projects, and

(b) mutually exclusive alternatives.

Table Summary: Table divided into 4 columns with the headings marked as: column 1: alternative; column 2: first cost in dollars; column 3: net annual income in dollars;

column 4, ROR in percentage.

Alternative First Cost, $ Net Annual Income, $ ROR, %

A −20,000 +3,000 15.0 B −10,000 +2,000 20.0 C −15,000 +2,800 18.7 D −70,000 +10,000 14.3 E −50,000 +6,000 12.0