Final Finishing is considering three mutually exclusive alternatives for a new polisher. Each alternative has an expected life of 10 years and no salvage value. Polisher 1 requires an initial investment of $20,000 and provides annual benefits of $4,465. Polisher 2 requires an initial investment of $10,000 and provides annual benefits of $1,770. Polisher 3 requires an initial investment of $15,000 and provides annual benefits of $3,580. MARR is 15%/year. Show the comparisons and internal rates of return used to make your decision:

Comparison Possibilities: No poliser versus polisher 3, Polisher 1 vs Polisher 2, Polisher 1 vs Polisher 3, No poliser versus polisher 2, Polisher 2 vs Polisher 3, No poliser versus polisher 1

Comparison 1: , IRR 1:

Comparison 2: , IRR 2:

Comparison 3: , IRR 3: