16-29 Evaluate these mutually exclusive alternatives with a horizon of 20 years and a MARR of 15%. B $9500 $18,500 $22,000 Initial investment Annual savings Annual costs 3200 5,000 9.800 1000 2,750 6,400 Salvage value 6000 4,200 14,000 Use each of these approaches: (a) Conventional B/C ratio (b) Modified B/C ratio (c) Present worth analysis (d) Internal rate of return analysis (e) Payback period