The Association of Sugar Cane Growers in the country plans to form a Company. The association is not sure yet on the kind of business they should venture in though they know that it should be in the sugar cane industry. The company should either be producing sugar known as option C, or producing biofuel referred to option D or just produce sugar cane and sell to sugar-producing organizations - option E. Information pertaining to investment requirements is given in the table below. The costs/revenue are in US $.

Item	Option C	Option D	Option E
First cost	5M	4M	2M
Annual maintenance costs	200,000	250,000	75,000
Increase in annual maintenance costs from the second year and thereafter	10,000	15,000	5,000
Salvage value	1.5M	1M	30M
Life span - years	20	20	perpetual
Annual revenue	1M	1.5M	250,000

Using a discount rate 0f 12%