Analyze a CSR capital investment proposal for Ganon Inc. Canon Inc. 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 asts longer than HID lighting for similar performance. The following information was developed: HID watt hour consumption per fixture 500 watts per hr LED watt hour consumption per fixtures Number of foxtures 300 watts per hr 800 Lifetime investment cost (in present value terms) to replace each HID fixture with LED $300 Operating hours per day 10 Operating days per year) 300 Metered utility rate per kilowatt-hour (kwh) $0.12 "Note: A kilowatt hour is equal to 1,000 watts per hour. a. Determine the investment cost for replacing the 800 fixtures. b. Determine the annual utility cost savings from employing the new energy solution Should the proposal be accepted? Yes 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)