PROBLEM $26\mathrm{.}3$A Analyzing Capital Investment Proposals LO$26-1,\backslash (\backslash$sqrt$\{\}\backslash )$ LO$26-2,\backslash (\backslash$sqrt$\{\}\backslash )$ LO$26-3,\backslash (\backslash$sqrt$\{\}\backslash )$ LO$26-4$ Willie Industries is evaluating two alternative investment opportunities. The controller of the company has prepared the following analysis of the two investment proposals. Items in addition to depreciation may have attributed to differences in the estimated annual cash flow and net income figures shown below: Instructions a$.$ For each proposed investment, compute the $(1)$ payback period, $(2)$ return on average investment, and $(3)$ net present value, discounted at an annual rate of $10$ percent. $($Round the return on investment to the nearest tenth of a percent.$)$ Use $\backslash (\backslash$boxed$\{\backslash$Theta$\}\backslash )$ Exhibits $26-3$ and $26-4$ where necessary. b$.$ Based on your computations in part a$,$ which proposal do you consider to be the better investment? Explain.