Highpoint Company is evaluating five different capital expenditure proposals. The company's hurdle rate for net present value analyses is 12%. A 10% salvage value is expected from each of the investments. Information on the five proposals is as follows: Required PV at 12% of After-Tax Avg. Annual Net Income from Proposal Investment Cash Flows Investment $265,000 $305,030 $37,400 195,000 231,780 26,000 155,000 168,040 19,200 175,000 211,300 27,600 123,000 131,990 14,960 te the excess present value index for each of the five proposals. Round answers to three decimal places. Proposal Excess PV Index mo b. Compute the average rate of return for each of the five proposals. Round answers to one decimal place. For example, 0.4567 equals 45.7% Proposal Avg. Rate of Return 096 0 % 0 % 0 % 0 % C. Assume that Highpoint will commit no more than $500,000 to new capital expenditure proposals. Using the excess present value index, which proposals would be accepted. Select the best answer. Now using the average rate of return, which proposals would be accepted? Select the best