ABC Solar Energy Inc. is building a new solar facility (solar farm) for its energy supply in coming years.

However, because of contract issues, this solar farm will not be able to operate for the first 3 years (t=1,2,3).

Starting with year 4, the solar farm will be able to provide benefits in the amount of $500,000.

The annual benefits are expected to increase by $20,000 per year for the next 11 years (t=5 to t=15).

That is, the annual benefits are $500,000 for year 4, $520,000 for year 5, $540,000 for year 6, and so on.

For year 15, the annual benefit will be $720,000. At the end of year 15, the farm will be dismantled and

there is no salvage or scrap value. Calculate the Present Worth of the benefits, at 6% annual interest rate.

		P(t=0) = $3,541,056.
		P(t=0) = $3,851,598.
		P(t=0) = $4,196,958.
		P(t=0) = $4,581,924.
		P(t=0) = $5,011,736.