64 The NPV equation (Equation 6.23) is described as follows: C (m) CR (1 +i)" (1+ i 1 to The NPV equation is important for evaluating project-bases investments. It is also a basic equation for defining the concept of "value addition and has broad philosophical implications or what engineers do. Explain. TABLE 6.14 Design Options Maximum Storage Design Alternatives Cost (s) Capacity (units) 500,000 625