The Royal Victoria Hospital is evaluating new office equipment offered by four companies. The useful life of the equipment is 4 years.

	Company A	Company B	Company C	Company D
First cost	$12,000	$18,000	$20,000	$25,000
Maintenance and operating cost (annual)	1,600	1,100	900	400
Annual benefit	8,000	9,000	11,000	13,000
Salvage value	3,000	3,500	4,500	6,000

When doing an incremental analysis looking at it from an investment perspective the companies need to be ranked as follows:

Select one:

a. C-D-B-A

b. A-B-C-D

c. A-B-D-C

d. D-C-B-A