A for-profit construction and design company is evaluating 3 projects. Details for each below. What is your recommendation for project selection at a MARR of 20%?

Time span Initial cost Annual Expenses Income Generated (years) Project 1 $950,000 $400,000 3 Project 2 $700,000 $4,000,000 5 $1,200,000 at start and completion of project $3,000,000 per year staring in year 1 and increasing by 20% each year $1,400,000 now and each year. $1,000,000 additional payment at end. Project 3 $1,700,000 $1,350,000 10