Payback period and IRR of a Cost Reduction Proposal-Differential Analysis Alight emitting diode (LED) is a semiconductor diode that emits narrow spectrum light. Although relatively expensive when compared to incandescent bulbs, they use vigubicant les energy and last six to ten times longer, with a slow decline in performance rather than on abrupt failure Metropolitan City currently has 80,000 incandescent bulbs in traffic lights at approximate 12.000 intersectionsIt is estimated that replacing all the incandescere bulbs with to wa cost 55403 million. However, the intentis akoestimated to save the City 51.1 milion per year in energy costs a. Determine the payback period of converting Metropoliti in City traffic lights to LED Round answer to one decimal place ya fine average life of an incandescent Street the one year and there of an LED this even they are interrat of five percent per autify your atter 1. Contact the internal rate of return on the project. Hound to the best whole percent 2. Select the most appropriate answer based on computation Co the city should not make the time it because the othevement in La of the tot Sve the city should use the investment because the other the state No the City should not make the restent because the ofte mein LED 200 the testi at they should be sementen LED herite