3. (25 points) A time zero cost of $300,000 is required for current equipment replacement, the existing project A is expected to maintain the generation of $450,000 before-tax profits each year for year one through year 10. Two alternatives are being considered for improvement (project "B") and improvement combined with expansion (project "C") with projected costs and revenues as shown on the time diagrams. All dollar values are expressed in thousands of dollars. A) 1 2 14 15 1819 10 16 C-300|1=450 L=450 1450 1450 1450 1-450 1450 1-450|1=450 1=450 565 8 1=5501-550 9 1=550 10 |1=550 | C=900 1=550 1550 1550 1350 1=550 1=550 163910 C=1200|| C = 800 1=750 1=750 1=7301=1501750T =2389 =750 1750 T2 750 For a minimum rate of return of 15% and considering the alternatives to be mutually exclusive, determine whether project A or B or "CH is the economic choice using ROR