55. Chevron Phillips has put into place new laboratory equipment for the production of chemicals; the fi rst cost is $1,800,000 installed. Chevron Phillips borrows 45% of all capital needed and the borrowing rate is 12.5%

over 4 years. The throughput rate for in-process test samples has increased the capacity of the lab, with a net savings of $X per year. Depreciation follows MACRS-GDS, MARR is 11%, and the planning horizon is 6 years with a salvage value of $250,000 at that time. Use Goal Seek or Solver in Excel® to determine the value of X such that MARR is exactly achieved, no more and no less, if:

a. The loan is paid back using Plan 1.

b. The loan is paid back using Plan 2.

c. The loan is paid back using Plan 3.

d. The loan is paid back using Plan 4.