Ivanhoe Corporation has decided to invest in renewable energy sources to meet part of its energy needs for production. It is considering solar power versus wind power. After considering cost savings as well as incremental revenues from selling excess electricity into the power grid, it has determined the following. Present value of annual cash flows Initial investment Net present value Solar $53,430 $39,000 $ Wind Determine the net present value and profitability index of each project. (If the net present value is negative, use either a negative sign preceding the number eg -45 or parentheses eg (45). Round present value answers to O decimal places, e.g. 125 and profitability index answers to 2 decimal places, e.g. 15.25.) Solar $129,765 $105,500 $ Wind

Ivanhoe Corporation has decided to invest in renewable energy sources to meet part of its energy needs for production. It is considering solar power versus wind power. After considering cost savings as well as incremental revenues from selling excess electricity into the power grid, it has determined the following. Determine the net present value and profitability index of each project. (If the net present value is negative, use elther a negative sign preceding the number eg -45 or parentheses eg (45). Round present value answers to 0 decimal places, eg. 125 and profitability Index answers to 2 decimal places, eg. 15.25.)