My S nu Excess Present Value Index and Average Rate of Return Highpoint Company is evaluating five different capita for net present value analyses is 12%. A 10% salvage value is expected from each of the investments Information on the five proposals is as follows l expenditure proposals. The company's cutoff rate Avg. Annual Net Income from Investment $37,400 26,000 19,200 27,600 14,960 of After-Tax Cash Flows 310,030 236,780 173,040 216,300 136,990 Proposal Required Investment PV at 12% $270,000 200,000 160,000 180,000 128,000 a. Compute the excess present value index for each of the five proposals. Round answers to three decimal places. Excess PV Index Proposal b. Compute the average rate of return for each of the five proposals. Round answers to one decimal place. For example, 0.4567 equals 45.7% Proposal Avg. Rate of Returrn