Three mutually exclusive design alternatives are being considered. The estimated cash flows for

each alternative are given next. The MARR is $20\%$ per year. At the conclusion of the useful life, the

investment will be sold. A decision$-$maker can select one of these alternatives or decide to select

none of them $($do nothing, DN$).$ Make a recommendation using the IRR method and incremental

investment analysis procedure.

Investment Cost

Annual Expenses

Annual Revenues

Market Value

MARR

Complete the steps below using cell references to given data or previous calculations. In some

cases, a simple cell reference is all you need. To copy$/$paste a formula across a row or down a

column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel

function is to be used, the directions will specify the use of that function. Do not type in numerical

data into a cell or function. Instead, make a reference to the cell in which the data is found. Make

your computations only in the blue cells highlighted below. In all cases, unless otherwise directed,

use the earliest appearance of the data in your formulas, usually the Given Data section.