A company is considering four types of equipment that involve capital investment and annual recurring costs as given in Table. Assume a useful life of 10 years for each type of equipment, no salvage value and that the company wants a minimum return of 12% on its capital. Based on an incremental external rate of return analysis, which equipment should be chosen? (Hint: All alternatives are feasible. Therefore, you do not have to calculate their individual ERR values. You should only calculate the ERR of the differences). (Hint2: Be careful to put a negative sign for the cost and investment values in your calculations.)