A municipality is considering an investment in a small renewable energy power plant with the following parameters:

• Cost $360,000
• Average output 50 kW year-round. (This means that on the average the plant generates 50 kWh of electricity for every hour in a year)
• Electricity price at the plant gate $0.039/kWh
• Expected salvage value $20,000

The investment is to be evaluated over a 25-year period, and the MARR is 6% Calculate NPV of this investment and find out if the project is financially attractive? Using this formula, please show step by step calculations.

NPV = - Initial Cost + S(Annuities) + Salvage Value