please use hand written formulas NOT excel thank you!!!

Problem 2 (15 points) The four alternatives described in the tables below are being evaluated. Alternative Initial investment ($) -90,000 Y -140,000 -60,000 -190,000 Y to X Comparison Incremental Rateca Incremental Rate Comparison 1 of Return (%) PBS of Return (%) X to DN | 22.2 Z to DNI 15.8 T to DN 11.7 Y to DN1 7.9 X to Z 43.3 Y to Z 22.5 IIT to X3332 T to Z 17.8 IT to Y3331 (a) If the proposals are independent, which one(s) should be selected at a MARR of 17% per year? (b) If the proposals are independent and the budget is $100,000, which one(s) should be selected at a MARR of 15% per year? (c) If the proposals are mutually exclusive, which one should be selected at a MARR of 14.5% per year? (show the evaluation procedure) 3339.8