III. Morton Company is contemplating three different equipment investments. The relevant data follows: Proposal X Proposal Y Proposal Z Cost $200,000 $300,000 $600,000 Annual savings of cash operating costs $40,000 $60,000 $115,000 Estimated useful life in years 8 8 8 Minimum desired rate of return 10% 10% 10% Required: (10 pts.) Using the Net Present Value analysis, select the best proposal and explain why you selected it. Indicate which table you used and show all computations