Homework: Chapter 12 - Homework core: 0 of 2 pts 7 of 10 (5 complete) E12-25A (similar to) Martin Industries is evaluating whether to invest in solar panels to provide some of the electrical needs of its main office building in Boulder, Colorado The solar panel project would cost $675,000pand would provide cost savings in its utility bills of $70,000 per year. It is anticipated that the solar panels would have a life of 20 years and would have no residual value. Read the requirements (Click the icon to view the (Click the icon to view the p (Click the icon to view the fu (Click the icon to view the fu 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 t! uc sta -S.. Choose from any drop-down list and then click Check Answer. Cew All 1)TI 5 parts remaining w atv A rs MacBook Pro mework 7 of 10 (5 complete) HW Score: 37 milar to) Ques Reference Elo f hed orta Call mu Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.926 0.9090.893 0.877 0.862 0.847 0.833 Period 2 0.980 0.961 0.943 0.925 0.907 0.890 0.857 0.826 0.797 0.769 0.7430.7180.694 Period 3 0.971 0.942 0.915 0.889 0.864 0.840 0.794 0.751 0.712 0.675 0.641 0.6090.579 Period 4 0.961 0.924 0.888 0.855 0.823 0.792 0.735 0.683 0.636 0.592 0.562 0.516 0.482 Period 5 0.951 0.906 0.863 0.822 0.784 0.747 0.681 0.621 0.567 0.519 0.476 0437 0.402 Period 6 0.942 0.8880837 0.790 0.746 0.705 0.630 0.564 0.507 0.456 0.410 0.370 0.335 Period 7 0.933 0.871 0.813 0.750 0.711 0.665 0.583 0.513 0.452 0.400 0.354 0.314 0.279 Period 8 0.923 0.853 0.789 0.731 0.677 0.627 0.540 0.467 0.4040.351 0.305 0.266 0233 Period 9 0.914 0.837 0.765 0.703 0.645 0.5920.500 0.424 0.361 0.308 0263 0225 0.194 Period 10 0.905 0.820 0.744 0.678 0.614 0.558 0463 0.388 0.322 0.270 0.227 0.1910.162 Period 11 0.896 0.8040.7220.650 0.585 0.527 0.429 0.350 0.287 0.237 0.1950.162 0.135 Period 12 0.587 0.788 0.701 0.625 0.557 0.497 0.397 0.319 0257 0.208 0.168 0.137 0.112 Period 13 0.879 0.773 0.681 0.601 0.530 0.469 0.368 0.2900 2290.162 0.145 0.116 0.093 Period 14 0.870 0.758 0.661 0.577 0.505 0.442 0.340 0.203 0.205 0.160 0.125 0.099 0.079 Period 15 0.861 0.743 0.542 0.556 0.481 0.417 0.315 0.239 0.183 0.140 0.108 0.084 0.065 Period 200.820 0673 0.554 0.456 0.377 0312 0.215 0.149 0.104 0.073 0.051 0.037 0.025 Period 25 0.780 0.6100478 0.375 0.295 0.233 0.1480.092 0,059 0.038 0.024 0.016 0.010 Period 30 0.742 0.552 0.412 0.308 0231 0.174 0.099 0.057 0.033 0.0200.012 0.007 0.004 Perlod 400.572 0.453 0.307 0.208 0.542 0.097 0.046 0.022 0.0110.005 0.003 0.001 0.001 any dr Print Done 9 Clear All Check Answer Aa MacBook Pro Que Reference Present Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% Period 1 0.990 0.980 0.971 0.962 0.962 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.6471.605 1.566 1.528 Period 3 2.941 2.884 2.8292.775 2.723 2.673 2.577 2.487 24022.322 2246 2.174 2.106 Period 43.902 3.808 3.717 3.630 3.546 3.465 3.312 3.170 3.037 2.914 2.798 2.690 2.589 Period 5 4.853 4.713 4.580 4.452 4.3294212 3.993 3.791 3.605 3.433 3.274 3.127 2991 Period 6 5.795 5.601 5.417 5.2425.076 4.917 4.623 4.355 4.111 3.8893.685 3.498 3.326 Period 7 6.728 6.472 6.230 6.002 5.786 5.582 5.206 4.868 4.564 4288 4.039 3.812 3.605 Period 8 7.6527325 7.020 6.733 6.463 6.210 5.747 5.335 4.968 4.639 4.344 4.078 3.837 Period 9 8.566 8.162 7.786 7.435 7.108 6.802 6 247 5.759 5328 4.946 4.607 4.303 4.031 Period 10 9.471 8.983 8.530 8.1117.722 7.360 6.710 6.145 5.6505.216 4.833 4.494 4.192 Period 11 10.368 9.787 9.253 8.760 8.306 7.887 7.139 6.495 5.938 5.453 5.029 4.656 4.327 Period 12 11.255 10.575 9.954 9.385 8.863 8.384 7.536 6.814 6.1945.660 5.197 4.793 4.439 Period 13) 12.134 11.348 10.635 9.986 9.394 8.853 7.904 7.1036424 5.842 5.342 4.910 4.533 Period 14 13.004 12.106 11.296 10.563 9.899 9.2958.244 7.367 6.628 6.002 5.468 5.008 4.611 Period 15 13.865 12.849 11.938 11.118 10.380 9.712 8.559 7.606 6.811 6.142 5.575 5.092 4.675 Period 20 18.046 16.351 14.877 13,590 12.462 11.470 9.818 8.5147.469 6.623 5.929 5.353 4.870 Period 25 22.023 19.52317.41315.622 14.094 12.783 10.6759.077 7.8436.873 8.097 5.467 4.948 Period 30 25.808 22 396 19.600 17 292 15.372 13.765 112589.4278.0567.003 6.177 5517 4.979 Period 40 32.835 27 355 23.115 19.793 17.159 15.046 11.925 9.7798.244 7.1055.233 5.548 4997 Print Done Clear All Check Answer tv A W Aa MacBook Pro . II lar to) Quest Reference 6% 2100 Future Value of $1 Periods 1% 2% 3% 4% 5% 8% 10% 12% 14% 16% 18% 20% Period 1 1.010 1.020 1.0301.040 1.050 1.060 1.080 1.100 1.120 1.140 1.160 1.180 1.200 Period 2 1.020 1.040 1.061 1.0821.103 1.124 1.166 1.210 1.254 1.300 1.346 1.392 1.440 Period 3 1.030 1.061 1.093 1.125 1.158 1.191 1.260 1331 1405 1.482 1.561 1.643 1.728 Period 4 1.041 1.082 1.126 1.170 1.216 1.262 1.360 1.464 1.574 1.689 1.811 1.939 2.074 Period 5 1.051 1.104 1.159 1.217 1.276 1.338 1.469 1.611 1.762 1925 2288 2.488 Perlod 6 1.062 1.126 1.194 1265 1.340 1.419 1.587 1.772 1.974 2.195 2.436 2.700 2.986 Period 7 1.072 1.149 1.230 1.316 1.407 1,504 1.714 1.949 2.211 2502 2.826 3.185 3.583 Period 8 1,083 1.172 1.267 1.369 1.477 1.594 1.851 2.144 2.476 2.853 3.278 3.759 4.300 Period 9 1.094 1.1951.305 1.423 1.551 1.689 1.999 2358 2773 3.252 3.803 4.435 5.160 Period 10 1.105 1219 1.3441480 1.629 1.791 2.159 2.594 3.106 3.707 4411 5.234 6.192 Period 11 1.116 1.243 1.384 1.539 1.710 1.898 2.332 2.853 3.479 4.226 5.117 6.175 7.430 Period 12 1.127 1.268 1.426 1.601 1.796 2012 2.518 3.138 3.896 4818 5.936 7.289 8.916 Period 13 1.138 1.294 1.469 1665 1.886 2.133 2.720 3.452 4.363 5.492 6.886 8.599 10.699 Period 14 1.149 1319 1513 1.732 1.980 2.261 2.937 3.797 4887 6.261 7.988 10.147 1.161 12 839 Period 15 1.346 1.558 1801 2.079 2.397 3.172 4.177 5.474 7.138 9.266 11.974 15.407 Period 20 1.220 1.486 1.806 2,191 2.653 3.207 4.861 6.727 9.646 13.743 19.46127393 Period 25 1.282 1.641 38 338 2094 2.668 3.386 4.292 6.848 10.83517.000 26,46240874 | 62 669 95 396 Period 30 1348 1811 2.427 3243 4322 6.743 10.060 17.449 29.96050.950 85.850 143371 237.376 Period 40 1480 2.208 3.262 4801 7.040 10.285 21.725 45.25993.051 188.884 378.721 750 378 1.469.772 mai Print Done Con Al Check Answer W Aa MacBook Pro 1 & 7 ll 9 ) 0 11 + 6 8