A firm is faced with four investment proposals, A, B, C, and D, having the cash flow profiles shown below. Proposals B and C are mutually exclusive, and the option of A is available only if D is chosen. Currently, $400,000 is available for investment, and the firm has stipulated a MARR of 20%. Determine the preferred alternative.

	CF(A)	CF(B)	CF(C)	CF(D)
Initial investment	$200,000	$200,000	$300,000	$150,000
Planning horizon	10 years	10 years	10 years	10 years
Annual revenues	$140,000	$160,000	$200,000	$200,000
Annual costs	$110,000	$125,000	$120,000	$150,000
Salvage value	$50,000	$50,000	$100,000	$50,000