REMAX Development owns a parcel of land in a city and wants to sell it to the highest bidder. One of the requirements is that REMAX will be involved in the construction and maintenance on that land. Three bidders submitted their proposals. From a standpoint of REMAX information is as follows: Initial investment Operating and maintenance costs/year Income/year Project 1 $3.0 M $750 K $1.2 M Project 2 $3.3 M $200 K $750 K Project 3 $4.6 M $400 K $1.1 M Evaluate these projects on the basis of their present worth if the interest rate is 12% and the assessment horizon is 25 years. What is the cash timeline for this