The management of Winstead Corporation is considering the following three investment projects (Ignore income taxes.): Investment required Present value of cash inflows Project Q $ 82,400 $ 90,064 Project R $ 125,900 $145,084 Project S $ 235,500 $258,175 The only cash outflows are the initial investments in the projects. Required: Rank the investment projects using the project profitability index. Rank 1 Rank 2 Rank 31 Devon Corporation uses a discount rate of 8% in its capital budgeting Partial analysis of an investment in automated equipment with a useful life of 7 years has thus far yielded a net present value of -$500,541. This analysis did not include any estimates of the intangible benefits of automating this process nor did it include any estimate of the salvage value of the equipment. (Ignor income taxes.) Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided Required: a. Ignoring any salvage value, how large would the additional cash flow per year from the intangible benefits have to be to make the investment in the automated equipment financially attractive? b. Ignoring any cash flows from intangible benefits, how large would the salvage value of the automated equipment have to be to make the investment in the automated equipment financially attractive? (Round your final answers to the nearest whole dollar amount.) a Minimum annual cash flows b. Minimum salvage value