Analyze a CSR Capital Investment Proposal for Den-Tex Company Den-Tex Company is evaluating a proposal to replace its HID (high intensity discharge) lighting with LED (light emitting diode) lighting throughout its warehouse. LED lighting consumes less power and lasts longer than HID lighting for similar performance. The following information was developed: HID watt hour consumption per fixture LED watt hour consumption per fixture 500 watts per hr. 300 watts per hr. Number of fixtures 700 Lifetime investment cost (in present value terms) $500 to replace each HID fixture with LED Operating hours per day Operating days per year Metered utility rate per kilowatt-hour (kwh)* 10 300 $0.11 *Note: A kilowatt-hour is equal to 1,000 watts per hour. a. Determine the investment cost for replacing the 700 fixtures. b. Determine the annual utility cost savings from employing the new energy solution. c. Should the proposal be accepted? Evaluate the proposal using net present value, assuming a 15-year life and 8% minimum rate of return. (Click here to view Present Value of Ordinary Annuity.)