Data for two machines P and Q are as shown below. At what MARR will both machines be equally attractive for installation?

	Machine P	Machine Q
Initial cost	$160,000	$315,000
Life in years	4	6
Inflation per year (for all costs)	3.00%
Benefit increase per year	6.00%
MARR per year compounded yearly	14.00%
Project life in years	12
First year estimated costs	$43,200	$72,450
First year estimated benefits	$83,200	$129,150
Salvage value of machine (% of initial cost)	13.50%	10.00%

Group of answer choices

11.44%

12.17%

13.19%

17.98%