Three designs for a bypass are being considered, with costs of $1.2 million, $1.5 million, and $2.1 million respectively and annual savings of $300,000, $400,000, and $500,000 respectively. The minimum annual rate of return is calculated to determine which design, if any, is chosen based on delivering the highest return over the bypass's 10-year lifespan.

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Three mutually exclusive designs for a bypass are under consideration. The bypass has a 10-year
life. The first design incurs a cost of $1.2 million for a net savings of $300,000 per annum. The
second design would cost $1.5 million for a net savings of $400,000 per annum. The third has a
cost of $2.1 million for a net savings of $500,000 per annum. For each of the alternatives, what
range of values for the MARR results in its being chosen? It is not necessary that any be chosen.