a) A process to produce ethanol from ethylene has been designed. Cost data for this base case are shown in the Table 1 where all figures are in millions. For all parts of this problem, assume that the required before-tax return on investment is 15% per annum and the equipment life is considered to be 10 years. i) Give recommendation on the construction of this plant, whether the base case design is a profitable venture or not. (4 marks) ii) There are two alternatives processes that require more expensive equipment, as indicated in the Table 1 below. Evaluate and give recommendations whether to invest or not. (6 marks) iii) Suppose that there were another alternative requiring an additional 2 million capital investments, determine the savings in operating costs required to make this as an attractive investment. Table 1 Details on projects considered Base Case Design Project B Project C 11.5 1.05 0.6 Capital investment Additional investment Annual product revenue Annual raw material costs All other annual operating costs 11.1 11.1 11.1 3.16 3.16 3.16 0.299 0.203 0.254