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Alpha University is considering making one, or possibly none, of the four mutually exclusive investments below. Each alternative has a six-year life with the indicated residual values. The alternatives are mutually exclusive. Alternatives Data A B C D Initial Cost $400,000 $100,000 $500,000 $200,000 Annual Costs $900 $12,000 $23,000 59,000 Annual Benefits $101,800 $39,700 $148,200 $55,200 Residual Value 40,000 $10,000 $70,000 $20,000 Using incremental rate of return analysis (not Net Present Value or Equivalent Uniform Benefits/Costs), determine which project the university should undertake if its minimum acceptable rate of return, MARR, is 12%