Ranking Investment Proposals: Payback Period, Accounting Rate of Return, and Net Present Value Presented is information pertaining to the cash flows of three mutually exclusive investment proposals: Proposal X Proposal Y Proposal Z Initial investment $98,000 $98,000 $98,000 Cash flow from operations Year 1 90,000 49,000 98,000 Year 2 Year 3 8,000 49,000 49,000 49,000 Disinvestment Life (years) 0 3 years 3 years 0 0 1 year Select the best investment proposal using the payback period, the accounting rate of return on initial investment, and the net present value criteria. Assume that the organization's cost of capital is 10 percent. Note: Follow rounding instructions noted for each computation. Use a negative sign with your answers, when appropriate. Proposal X Payback period (years) 2 Accounting rate of return; Round answers to 4 decimal places. Net present value; Round answers to nearest whole number. 17.2101 x 27,244 Proposal Y 2 17.2101 x 23,856 Proposal Z Best proposal 1 Z 0 X,Y (16,182) x X