The management of Ortega manufacturing has three different proposals under consideration. the accounting department has prepared the following information"

Proposal A Proposal B Proposal C

Initial investment $3,100,000. $2,450,000 $2,055,000

Useful life of equipment 7 years 7 years 7 years

Estimated salvage value. $0 $400,000 $100,000

Payback period 4.2 years 4.4 years 4 years

Net present value discounted at 15% $(30,000) $21,600 $15,800

Which of the above proposals generates the greatest annual cash flow?