A new 90,000 barrels (bbl) per day simple refinery is going to be built with the following investment data in million of U.S. dollars: Construction time: 2 years Cost of land: $10 Capital cost during the first year: $900 Capital cost during the second year: $190 working (operating) capital: 10% of total capital cost at the end of year 2 Operating cost: $6.4 bbl Crude price: $57 bbl-1 (barrel) Average price of products: $66.84 bbl -1 Taxation rate: 40% Salvage value of refinery at the end of its useful life is assumed to offset its dismantling cost Refinery life after start-up: 20 years Depreciation per year: $900/20 = $45 Assume that the product yield and the prices of crude oil and products and the operating costs are as shown in the Refinery Margins Case Study. Use a discount rate of 2.5% in your calculations. Calculate: a) The net present value, b) The present value ratio, The discounted payback period, and c) The discounted cash flow rate of return d) Write a note on how can you make this refinery more economical? A new 90,000 barrels (bbl) per day simple refinery is going to be built with the following investment data in million of U.S. dollars: Construction time: 2 years Cost of land: $10 Capital cost during the first year: $900 Capital cost during the second year: $190 working (operating) capital: 10% of total capital cost at the end of year 2 Operating cost: $6.4 bbl Crude price: $57 bbl-1 (barrel) Average price of products: $66.84 bbl -1 Taxation rate: 40% Salvage value of refinery at the end of its useful life is assumed to offset its dismantling cost Refinery life after start-up: 20 years Depreciation per year: $900/20 = $45 Assume that the product yield and the prices of crude oil and products and the operating costs are as shown in the Refinery Margins Case Study. Use a discount rate of 2.5% in your calculations. Calculate: a) The net present value, b) The present value ratio, The discounted payback period, and c) The discounted cash flow rate of return d) Write a note on how can you make this refinery more economical