10) Burton Corporation is considering investing in a project that will save electricity through energy efficient lighting. Electricity rates are projected to increase at 3% per year, what is the present value of the electric savings on a project that will save $16,000 per year, at the end of the period, if the company MARR is 15% and the lighting project should have an 8 year life? a. $70,200 b. $78,120 c. $79,205 d. $84,210