A new air conditioning system will cost $10,000 at time 0 to buy and install and save $800 at the end of each year in electricity costs for 10 years. You expect to sell the building at the end of year 10, at which time you expect to get back $3000 because the air conditioning system will increase the resale value of the building. a. What is the equivalent value at time 0 (present value) of the air conditioning system using an effective annual interest rate of 3% per year (i.e., your time value of money = 3%)? b. Without the $3000 higher resale value of the building (i.e. if the building is not sold), how many years N is required for the electricity savings of the new air conditioner to equal your initial cost if your time value of money = 3% per year?