Question 3 (12 pts): The following information refers to three mutually exclusive alternatives. They all have a useful life of 6 years. The decision maker wishes to choose the right machine but is uncertain what MARR to use. Create a choice table that will help decision. The do-nothing option is allowed. Machine X Machine Y Machine z Initial cost $ 2,000 $4,200 $5,000 Uniform annual benefit $ 550 $1,000 $1,300 1) (4 pts) Please create a graph to show the relationships between the different MARR and NPW for each machine (You can use Excel or manually try several interest rates and plot them in a graph, please refer to slide 7 in "13_Choosing the Best Alternative.pptx" if you are unclear). 2) (5 pts) What is the IRR for the following items? (Hint: directly read the approximate rates from the graph that you just created in part 1) IRR for machine X: IRR for machine Y: IRR for machine z: IRR for machine Y-X: IRR for machine Z-X: 3) (2 pts) Create a choice table (use the approximate rates you get in part 2). 4) (1 pts) The decision maker later decided to use a MARR of 12%, which alternative should be selected? Question 3 (12 pts): The following information refers to three mutually exclusive alternatives. They all have a useful life of 6 years. The decision maker wishes to choose the right machine but is uncertain what MARR to use. Create a choice table that will help decision. The do-nothing option is allowed. Machine X Machine Y Machine z Initial cost $ 2,000 $4,200 $5,000 Uniform annual benefit $ 550 $1,000 $1,300 1) (4 pts) Please create a graph to show the relationships between the different MARR and NPW for each machine (You can use Excel or manually try several interest rates and plot them in a graph, please refer to slide 7 in "13_Choosing the Best Alternative.pptx" if you are unclear). 2) (5 pts) What is the IRR for the following items? (Hint: directly read the approximate rates from the graph that you just created in part 1) IRR for machine X: IRR for machine Y: IRR for machine z: IRR for machine Y-X: IRR for machine Z-X: 3) (2 pts) Create a choice table (use the approximate rates you get in part 2). 4) (1 pts) The decision maker later decided to use a MARR of 12%, which alternative should be selected