1. Ajax, Inc. has a budget of $1.7 million for projects this year. Below is a list of capital investment alternatives available to them. What is the firm's opportunity cost of capital (i.e., their MARR)? Project Investment 111,000 $153,000 S342,000 $319,000 S368,000 $213,000 $327,000 $167,000 130,000 Rate of Return 25.2% 24.3% 22.1% 16.5% 3 1.4% 24.4% 34.6% 19.5% 17.4%