Exercise 24-1 Ranking Capital Investment Proposals Emerald Bay Furniture Company's managers have gathered all of the capital investment proposals for the year, and they are ready to make their final selections. The following proposals and related rate-of-return amounts were received during the period: Project AB CD EF GH IJ KL MN OP Capital Investment $450,000 500,000 654,000 800,000 320,000 240,000 180,000 400,000 560,000 1,200,000 1,600,000 Rate of Return 19% 28% 12% 32% 23% 18% 16% 26% 14% 22% 20% ST UV Assume that the company's minimum rate of return is 15 percent and that $5,000,000 is available for capital investments during the year Exercise 24-1 Ranking Capital Investment Proposals Emerald Bay Furniture Company's managers have gathered all of the capital investment proposals for the year, and they are ready to make their final selections. The following proposals and related rate-of-return amounts were received during the period: Project AB CD EF GH IJ KL MN OP Capital Investment $450,000 500,000 654,000 800,000 320,000 240,000 180,000 400,000 560,000 1,200,000 1,600,000 Rate of Return 19% 28% 12% 32% 23% 18% 16% 26% 14% 22% 20% ST UV Assume that the company's minimum rate of return is 15 percent and that $5,000,000 is available for capital investments during the year