4. (20 Points) The plant manager at a small machine shop is considering three project proposals, with cash flows as shown in the table below. All proposed projects have a 20-year useful life and the company has a MARR of 12%. B Proposal A C Initial Cost, $ 50,000 22,000 15,000 Annual net savings, $/yr 7,500 3,077 2,403 Proposal's Annual Rate of Return 13.9% 12.7% 15.0% Determine which, if any, of the proposals should be selected if they are mutually exclusive projects. Notes: 1) The Do-nothing alternative is viable, as the company does not necessarily have to invest. 2) Your solution must be based on a Rate of Return analysis