9. Suppose we are thinking about renovating a leased office. The renovations will cost $364,000. The renovations will be depreciated straight line to zero over the five year remainder of the lease. The new office will save $36,000 per year in heating and cooling costs. Also, absenteeism should be reduced and the new image should increase revenues. These last items will result in increased operating revenues of $43,000 annually. The tax rate is 36% and the discount rate is 11%. Strictly from a financial perspective, should the renovations take place? a) No b) Yes c) Not enough information