JB Chemical currently discharges liquid waste into Calgary's municipal sewer system. However, the Calgary municipal government has informed JB that a surcharge of $

$4$

$$per thousand liters will soon be imposed for the discharge of this waste. This has prompted management to evaluate the desirability of treating its own liquid waste.

A proposed system consists of three elements. The first is a retention basin, which would permit unusual discharges to be held and treated before entering the downstream system. The second is a continuous self

$-$

cleaning rotary filter required where solids are removed. The third is an automated neutralization process required where materials are added to control the alkalinity

$-$

acidity range.

The system is designed to process

$7$

$0$

$0$

$,$

$0$

$0$

$0$

$$liters a day. However, management anticipates that only about

$2$

$0$

$0$

$,$

$0$

$0$

$0$

$$liters of liquid waste would be processed in a normal workday. The company operates

$3$

$0$

$0$

$$days per year. The initial investment in the system would be $

$4$

$5$

$0$

$,$

$0$

$0$

$0$

$,$

$$and annual operating costs are predicted to be $

$1$

$5$

$0$

$,$

$0$

$0$

$0$

$.$

$$The system has a predicted useful life of eight years and a salvage value of $

$6$

$0$

$,$

$0$

$0$

$0$

$.$

$($

a

$)$

$$Determine the project's net present value at a discount rate of

$1$

$6$

$$percent$.$

$($

Round to the nearest whole number. Use a negative sign with your answer if appropriate.

$)$

$($

b

$)$

$$Determine the project's approximate internal rate of return.

$($

Round answer to the nearest whole percentage.

$)$

$($

c

$)$

$$Determine the project's payback period

Note: Round your answers to two decimal places. For example, enter

$8$

$.$

$8$

$4$

$$for

$8$

$.$

$8$

$4$

$4$

$$and

$8$

$.$

$8$

$5$

$$for

$8$

$.$

$8$

$4$

$5$

$.$