Capital rationing decision for a service company involving four proposalsRenaissance Capital Group is considering allocating a limited amount of capital investment funds among four proposals. The amount of proposed investment, estimated operating income, and net cash flow for each proposal are as follows: 

Operating Net CashProposal A: 

Investment $$500,00\mathrm{0 }$Year$1\mathrm{2 }$IncomeFlow$ $45,000$ $ $145,00040,000140,00025,000125,00020,000120,0005\mathrm{.}000$$$135,000105\mathrm{.}000$$$635,000$Proposal $8$:$$400\mathrm{.}000$AWN$+$$ $40\mathrm{.}000$$ $120,00020,000100\mathrm{.}00010,00090\mathrm{.}00010,00090,0006,00086,000$$ $86\mathrm{.}000$ $$486\mathrm{.}000$Proposal C:$$380,000$$ $54,000$$ $130,00049,000125,00049,000125,00044,000120,00044,000120\mathrm{.}000$$$240\mathrm{.}000$$$620,000$Proposal D:$$675,000$AWN.$$135\mathrm{.}000$$$270,000120,000255,00090,000225,00015,000150,00010,000145\mathrm{.}000$$$370\mathrm{.}000$ $ $1\mathrm{.}045\mathrm{.}000$

The company s capital rationino policy requiresomen com barbecurodorears. In addition a minimum average rate of return of $0415$ required on all proft! the preceding Standard are met, the net gresent value method and present value indexes are uled to tank thePresent Value of $33$ at Compound Interest.$$

$690\mathrm{.}9120\mathrm{.}8900\mathrm{.}8400\mathrm{.}7920\mathrm{.}7470\mathrm{.}7050\mathrm{.}6650\mathrm{.}6270\mathrm{.}3020\mathrm{.}5580\mathrm{.}9090\mathrm{.}8260\mathrm{.}2510\mathrm{.}6030\mathrm{.}6210\mathrm{.}5640\mathrm{.}5190\mathrm{.}4070\mathrm{.}\mathrm{}$

$4240\mathrm{.}3860\mathrm{.}8920\mathrm{.}8700\mathrm{.}7960\mathrm{.}7120\mathrm{.}6260\mathrm{.}5670\mathrm{.}5070\mathrm{.}4520\mathrm{.}4040\mathrm{.}3220\mathrm{.}5720\mathrm{.}4970\mathrm{.}4320\mathrm{.}3760\mathrm{.}\mathrm{}$

$9270\mathrm{.}2640\mathrm{.}2470\mathrm{.}6040\mathrm{.}3790\mathrm{.}4820\mathrm{.}4020\mathrm{.}2250\mathrm{.}2790\mathrm{.}2390\mathrm{.}1940\mathrm{.}162$

Required:$1.$

Compute the cash payback period for each of the four proposals.