Raerilla Purchase Latest Model of Equipment Inital cost Net income (annual) Depreciation Expense (annual) Repair at year 4 Salvage value Which project's IRR is closest to the Hurdle Rate? Which project has an IRR lower than the Hurdle Rate? Use the SUM() function in the calculated NPV charts and the Initial Cost in the original data to compute Profitability Index. 57 64 Raerilla Purchase Latest Model of Equipment Inital cost Net income (annual) Depreciation Expense (annual) Repair at year 4 Salvage value Which project's IRR is closest to the Hurdle Rate? Which project has an IRR lower than the Hurdle Rate? Use the SUM() function in the calculated NPV charts and the Initial Cost in the original data to compute Profitability Index. 57 64