The management of an electronics manufacturing firm believes it is desirable to automate it’s production facility. The automated equipment would have no salvage value at the end of a 10 year life. The plant engineering department has suggested 8 mutually exclusive alternatives. If the firm expects a 10% rate of return, which plan if any should the firm adopt?Plan, initial cost (thousands), Net annual benefit (thousands)1, $265, $512, 220, 393, 180, 264, 100, 155, 300 ,576 ,130, 237, 245, 478 ,165, 33