Toronto Shakespearean Theater's board of directors is considering the replacement oi the theater's lighting system. The old system requires two people to operate it. but the new system would require only a single operator. The new lighting system will cost \($129,750\) and save the theater \($27,000\) annually for the next eight years.

Required: 

Prepare a table showing the proposed lighting system's net present value tor each of the following discount rates: 8 percent. 10 percent, 12 percent. 14 percent, and 16 percent. Use the following headings in your table. Comment on the pattern in the right-hand column.

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Annuity Present Value Discount Rate Discount Factor Annual Savings of Annual Savings Acquisition Cost Net Present Value