A firm is considering an investment in a robotic transfer cell needed for an eight (8) year project life. Three alternatives are under consideration. The firm uses an 18% MARR. The cash flows of the alternatives are as follows: Cash Flow Initial cost O & M costs /year S 2,650 Annual cost savings S 7,700 Salvage value Technical life - years $14,700 S 2,750 S 7,500 S 3,825 4,125 4 $23,250 S 1,100 S 6,500 S 5,600 $20,800 Using incremental rate of return analysis, determine which alternative the firm should select, Work in Excel and show the formulas used to solve each