Excess Present Value Index and Average Rate of Return Swanson Corporation is evaluating five different capital expenditure proposals. The company's hurdle rate for net present value analysis is 12%. A 15% salvage value is expected from each of the investments. Information on the five proposals is as follows: Proposal Required Investment Net Present Value Avg. Annual Net Income from Investment A B C D E $48,000 $8,996 78,000 5,812 108,000 27,034 148,000 7,544 70,000 15,822 a. Compute the excess present value index for each of the five proposals. Round answers to three decimal places. Proposal Excess PV Index ABCDE 0 0 0 0 0 $9,100 12,000 18,300 21,500 13,960