A bioreactor for the fermentation of biofuel precursor is expected to cost $250,000 three years from now, $200,000 five years from now, and another $170,000 six years from now. If the biofuel company wants to set aside enough money now to cover these costs at a rate of 18% per year compounded bimonthly (every two months)? a) Draw the cash flow diagram b) What is the effective rate based on yearly and bimonthly c) Determine how much must be invested now to cover the cost at the effective interest rate Northern Engineering is analyzing a mining project. Annual production, unit costs, and unit revenues are in the table. The first cost of the mine setup is $6 million. If MARR is 15%, what is the PW? Year Annual Production (tons) Cost per ton Price per ton 1 90,000 2 120,000 3 120,000 4 100,000 5 80,000 6 60,000 7 40,000