dont use excel

3. A company faces the following investment alternatives: Capital Cash Flows from Investment $1.2 million per year in Project Investment 7 million 12 million $16 million $10 million $11 million erpetuity $1.5 million per year in erpetuit $2.2 million per year in erpetuit $1.4 million per year in erpetuity $1.6 million per year in erpetuit IV If the company's budget is $30 million, use the profitability index to determine the best combination of investments, given a cost of capital of 5%. (4 marks)