Note: Except for the option E written in the table, all other options are correct. I would appreciate if you could help me with option E. But we know that the answer 8,968.88 for option E is wrong.

A newf furnace for your small factory is being installed right now, will cost $27,000, and will be completed in one year. At that point, it will require ongoing maintenance expenditures of $1,500 a year But it is far more fuel-efficient than your old furnace and will reduce your consumption of heating oll by 2,400 gallons per year Heating oll this year costs $3 a gallon; the price per galion is expected to increase by $0.50 a year for the next 3 years and then to stabilize for the foreseeable future. The furnace will last for 20 years from initial use, at which point it will need to be replaced and will have no salvage value. (Specifically, the firm pays for the furnace at time 0 and then reaps higher net cash flows from that investment at the end of years 120.) The discount rate is 8%, a. What is the net present value of the investment in the furnace? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. What is the IRR? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. c. What is the payback period? d. What is the equlvalent annual cost of the furnace? Note: Round your intermediate calculations to 4 decimal places. Round your answer to 2 decimal places. e. What is the equivalent annual savings derived from the furnace? Note: Round your intermediate calculations to 4 decimal places. Round your answer to 2 decimal places. f. Compare the PV of the difference between the equlvalent annual cost and savings to your answer to part (a) Are the two measures the same or is one larger? e. What is the equivalent annual savings derived from the furnace? Note: Round your intermediate calculations to 4 decimal places. Round your answer to 2 decimal places. f. Compare the PV of the difference between the equivalent annual cost and savings to your answer to part (a). Are the two measures the same or is one larger