1. The Salisbury Corporation is considering four mutually exclusive alternatives for a major capital investment project. All alternatives have a useful life of 10 years with no salvage value at the end. Straight line depreciation will be used. The corporation pays federal and state tax at a rate of 34%, and expects an after-tax MARR of 10%. Determine which alternative should be selected, using the NPV method. Before-tax uniform Initial cost annual net benefits Alternatives (Smillion) (Smillion) 1 $4.0 $1.5 2 3.5 1.1 3.0 1.0 4 3.7 1.3