8) Sullivan Manufacturing is considering following two investment proposals: Proposal X $740,000 5 years Proposal Y $508,000 4 years Investment Useful life Estimated annual net cash inflows received at the end of each year Residual value Depreciation method Annual discount rate $92,000 $154,000 $66,000 Straight-line 10% Straight-line 9% Compute the present value of the future cash inflows from Proposal X. Present value of an ordinary annuity of $1: 8% 9% 10% 0.926 0.917 0.909 1.783 1.759 2.577 2.531 3.312 3.240 3.993 3.890 3.791 6 4.623 4.486 4.355 2.487 1 Present value of $1: 8% 0.926 0.857 0.794 0.735 0.681 0.630 A) $762,136 B) $668,128 C) $583,814 D) $624,800 9% 0.917 0.842 0.772 0.708 0.650 0.596 10% 0.909 0.826 0.751 0.683 0.621 0.564