4.50 The product development group of a high-tech electronics company developed five proposals for new products. The company wants to expand its product offerings, so it will undertake all projects that are economically attractive at the company's MARR of 20% per year. The cash flows (in $1000 units) associated with each project are estimated. Which projects, if any, should the company accept on the basis of a present worth analysis, under the following conditions? (15 Points) a. There is no budget restriction. b. (Spreadsheet exercise) No more than $1.2 million (i.e., $1200 in $1000 units) can be invested and the initial investment of project 2 was corrected to be $-400, with other estimates remaining as shown. (Hint: Use PV function results to obtain bundle PW values.) Project 1 2 3 4 5 Initial investment, S-400-510-660-820-900 M&O cost, $/year -100-140-280-315-450 Revenue, $/year 360 235 400 605 790 Salvage value, $ 22 8 Life, years 3 10 5 8 4 95