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Pharoah Corp. has an 8% required rate of return. It's considering a project that would provide annual cost savings of $78000 for 5 years. The

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Pharoah Corp. has an 8% required rate of return. It's considering a project that would provide annual cost savings of $78000 for 5 years. The most that Johnson would be willing to spend on this project is Present Value of 1 at 8% PV of an Annuity of 1 at 8% Year 1 0.926 0.926 2 0.857 1.783 3 0.794 2.577 4 0.735 3.312 5 0.681 3.993 ty $196420 O $53118. O $311454 $258336

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