Unequal liveslong dashANPV approachEvans Industries wishes to select the best of three possible machines, each of which is expected to satisfy the firm's ongoing need for additional aluminum-extrusion capacity. The three machineslong dashA, B, and Clong dashare equally risky. The firm plans to use a cost of capital of 11.3 % to evaluate each of them. The initial investment and annual cash inflows over the life of each machine are shown in the following table.(Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Machine A Machine B Machine C Initial investment (CF 0) $91 comma 600 $64 comma 700 $99 comma 500 Year (t) Cash inflows (CF Subscript t) 1 $11 comma 400 $11 comma 000 $30 comma 600 2 11 comma 400 19 comma 900 30 comma 600 3 11 comma 400 30 comma 100 30 comma 600 4 11 comma 400 39 comma 200 30 comma 600 5 11 comma 400 long dash 30 comma 600 6 11 comma 400 long dash long dash a. Calculate the NPV for each machine over its life. Rank the machines in descending order on the basis of NPV. b. Use the annualized net present value (ANPV) approach to evaluate and rank the machines in descending order on the basis of ANPV. c. Compare and contrast your findings in parts (a) and (b). Which machine would you recommend that the firm acquire?