2. (30 pt) A project has initial costs of $40k, annual revenue of $16k, Annual O&M of $8k, Salvage of $15k, a five-year lifetime and MARR = 0.05. (b) Based on part (a), do you recommend the project? Why? (c) Calculate project Rate of Return, is it higher or lower than the MARR? Why? (d) Write the equation you would use to determine the Rate of Return, in terms|| of Interest factors only. (e) Determine the Payback period, undiscounted (simple). (a) Determine the Annual Cash Flow of the project. (Show both excel-based and formula-based calculations for part (a))