E12-25A (similar to) Connely Industries is evaluating whether to invest in solar panels to provide some of the electrical needs of its main office building in Pheadelphia, Pennsylvania. The solar panel project would cost $500.000 and would provide cost savings in its utility bills of $55,000 per year. It is anticipated that the solar panels would have a lot 20 years and would have no residual value Read the requirements (Cick the con to view the present value factor table (Cick the ken to view the present value annuty factor table (Cick the icon to view the future value factorial) (Cick the loon to view the future value antul factor) Requirement 1. Calculate the payback period in years of the solar panel project Determine the formula, then calculate the payback period (Round your answer to two decimal places) Payback period Requirements 1. Calculate the payback period in years of the sole panel project 2. the company uses a discount rate of 8%, what is the representatie of project? 3. If the company has a rule that no projects will be undertaken that have payback period of more than five years, would this investment be accepted if not what ruments to the energy manager make to try to obtain approval for the solar panel project? 4. What would you do if you were in charge of approving capital vestment proposal? Print Dono Choose from any drop-down Ust and then click Check Answer Clearl 5 Punaining