Tilson Dairies operates several cheese plants. The plants are all old and in need of renovation. Tilson's engineers have developed plans to renovate all of them. Each project would have a positive...

Extracted text: Tilson Dairies operates several cheese plants. The plants are all old and in need of renovation. Tilson's engineers have developed plans to renovate all of them. Each project would have a positive present worth at the company's MARR. Tilson has $3.5 million available to invest in these projects. The following facts about the potential renovation projects are available: Project A: Renovate plant 1 B: Renovate plant 2 C: Renovate plant 3 D: Renovate plant 4 Which projects should Tilson accept? First Cost Present Worth $1.1 million $1.7 million $1.8 million $2.7 million $0.8 million $1.2 million $1.4 million $2.0 million