4. Capital investment analysis (20 points) Fiction company is considering the following investment opportunities. They are mutually exclusive. Assume that the residual value of each of the projects is zero. The target rate of return required by the management is 20% per annum. Greenhouse Front End Loader Year Income from Operations 1 $22,000 Net Cash Flow $ 38,000 Income from Operations $ 7,000 Net Cash Flow $ 23,000 2 12,000 28,000 7,000 23,000 3 9,000 25,000 7,000 23,000 4 (4,000) 12,000 7,000 23,000 (4,000) 12,000 7,000 23,000 $35,000 $115,000 $35,000 $115,000 a. Which alternative will be chosen based on the Average Rate of Return? b. Which alternative will be chosen based on the Cash Payback Period? C. Which alternative will be chosen based on the Net Present Value? d. Which alternative will be chosen based on the Present value Index?