Three mutually exclusive earth-moving pieces of equipment are being considered for several large building projects in India over the next five years. The estimated cash flows for each alternative are given below. The construction company€™s MARR is 15% per year. Which of the three alternatives, if any, should be adopted? State your main assumptions.

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Caterpillar Deere Case Capital investment Net annual revenue Salvage value Useful life $26,200 $17,000 $9,500 $5,200 $5,000 $3,500 $22,000 $7,000 $4,000 4 years 3 years 5 years