3. (10 points) You are evaluating five mutually exclusive investment projects. You already calculated the internal rate of return for each alternative and the incremental IRR between each pair of alternatives as well. In calculating the incremental IRR, a lower cost investment project is subtracted from a higher cost investment project. Thus the values in the table below reflect this calculation requirement; for example, the 28% at the intersection of alternative A and alternative B is IRRB-A. Alternative Initial Cost ($) Rate of Return (%) A B 28 20 12 35,000 45,000 60,000 65,000 80,000 B D E D 36 40 42 12 15 13 20 18 E 27 22 25 -5 If the MARR is 11%, which alternative should be chosen? Consider do-nothing as an alternative. Show all comparisons made for credit (e.g. IRRx-Y=Z