PLEASE ANSWER THIS QUESTION WITH STEP-BY-STEP SOLUTIONS WITHOUT USING EXCEL. THANK YOU VERY MUCH!

Orpheum Productions in Nevada is considering three mutually exclusive alternatives for lighting enhancements to one of its recording studios. Each enhancement will increase rev- enues by attracting directors who prefer this lighting style. The following table shows the cash flow details, in thousands of dollars, for these enhancements. MARR is 10%/year. Assume that any money not invested in the lighting enhancements will be placed in an interest-bearing account earning MARR and will be used for future studio modernization projects. Use the total portfolio approach to examine the future worth of each alternative and determine which alternative should be selected. $0 End of Year Light Bar Sliding Spots Reflected Beam 0 - $6,000 -$14,000 $20,000 1 $2,000 $3,500 2 $2,000 $3,500 $2,300 3 $2,000 $3,500 $4, 600 4 $2,000 $3,500 $6,900 5 $2,000 $3,500 $9, 200 6 $2,000 $3,500 $11,500 Orpheum Productions in Nevada is considering three mutually exclusive alternatives for lighting enhancements to one of its recording studios. Each enhancement will increase rev- enues by attracting directors who prefer this lighting style. The following table shows the cash flow details, in thousands of dollars, for these enhancements. MARR is 10%/year. Assume that any money not invested in the lighting enhancements will be placed in an interest-bearing account earning MARR and will be used for future studio modernization projects. Use the total portfolio approach to examine the future worth of each alternative and determine which alternative should be selected. $0 End of Year Light Bar Sliding Spots Reflected Beam 0 - $6,000 -$14,000 $20,000 1 $2,000 $3,500 2 $2,000 $3,500 $2,300 3 $2,000 $3,500 $4, 600 4 $2,000 $3,500 $6,900 5 $2,000 $3,500 $9, 200 6 $2,000 $3,500 $11,500