Home Company has a number of potential capital Investments. Because these projects vary in nature, Initial Investment, and time hartzan, management is finding it difficult to compare them. Assume straight line depreciation method is used. Project 1: Retooling Manufacturing Facility This project would require an initial Investment of 55,700,000. It would generate $1.018,000 in additional net cash flow each year. The new machinery has a useful life of sight years and a salvage value of $1.204,000 Project 2: Purchase Patent for New Product The patent would cost 53.995,000, which would be fully amortized over five years. Production of this product would generate 5838.850 additional annual net income for Heeme. Project 3: Purchase a New Fleet of Delivery Trucks Hearne could purchase 25 new delivery trucks at a cost of $200,000 each. The fleet would have a selle of 10 years, and each truck would have a salvage value of $8,700. Purchasing the foot would alow Hearne to expand its customer territory resulting in $1,050,000 of additional net income per your Required: 1. Determine each project's accounting rate of return. (Round your answers to 2 decimal places.) Accounting Rate of Return Project 1 Project 2 Project 3 2. Determine each project's payback period. (Round your answers to 2 decimal places.) Project 1 Project 2 Project 3 Years Years Years 3. Using a discount rate of 10 percant, calculate the natprosent value of each project (Future Value of S1, Present Value of S1, Future Value Annuty of S1, Procont Value Annuity of $1.) (Use appropriate factoris) from the tables provided. Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places Net Present Project z Project 3 4. Delermine the profitabiity index of each project and prioritize the projects for Heame (Round your intermediate calculations to 2 decimal places. Round your final answers to 4 decimal places.) Profitability Rank Index Project 1 Project 2