Please do all requirements below, thank you

1.	Calculate the payback period in years of the solar panel project.
2.	If the company uses a discount rate of 12%,what is the net present value of this project?
3.	If the company has a rule that no projects will be undertaken that have a payback period of more than five years, would this investment be accepted? If not, what arguments could the energy manager make to try to obtain approval for the solar panel project?
4.	What would you do if you were in charge of approving capital investment proposals?

Greyson Industries is evaluating whether to invest in solar panels to provide some of the electrical needs of its main office building in Charlotte, North Carolina. The solar panel project would cost $550,000 and would provide cost savings in its utility bills of $40,000 per year. It is anticipated that the solar panels would have a life of 15 years and would have no residual value. Read the requirements. Requirement 1. Calculate the payback period in years of the solar panel project Determine the formula, then calculate the payback period. (Round your answer to two decimal places.) Initial investment Payback period X Reference Present Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% 1 0.990 0.980 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 2 1.970 1.942 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.647 1.605 1.566 1.528 2.941 2.884 2.829 2.775 2.723 2.673 2.577 2.487 2.402 2.322 2.246 2.174 2.106 4 3.902 3.808 3.717 3.630 3.546 3.465 3.312 3.170 3.037 2.914 2798 2.690 2.589 4.853 4,713 4.580 4.452 4.329 4,212 3.993 3.791 3.605 3.433 3.274 3.127 2.99 5.795 5.601 5.417 5.242 5.076 4.917 4.623 4.355 4.111 3.889 3.685 3.498 3.326 7 6.728 6.472 6.230 6.002 5.786 5.582 5.206 4.868 4.564 4,288 4.039 3.812 3.605 8 7.652 7.325 7.020 6.733 6.463 6.210 5.747 5.335 4.968 4.639 4.344 4.078 3.837 7,108 8.566 8.162 7.786 7.435 6.802 6.247 5.759 5.328 4,946 4.607 4.303 4.031 6.145 10 9.471 8.983 8.530 8.111 7.722 7.360 6.710 5.650 5.216 4.833 4.494 4.192 11 10.368 9.787 9.253 8.760 8.306 7.887 7.139 6.495 5.938 5.453 5.029 4.656 4.327 12 11.255 10.575 9.954 9.385 8.863 8.384 7.536 6.814 6.194 5.660 5.197 4.793 4.439 13 12.134 11.348 10.635 9.986 9.394 8.853 7.904 7.103 6.424 5.842 5.342 4.910 4,533 14 13.004 12.106 11.296 10.563 9.899 9.295 8.244 7.367 6.628 6.002 5.468 5.008 4.611 13.865 12.849 15 11.938 11.118 10.380 9.712 8.559 7.606 6.811 6.142 5.575 5.092 4.675 20 18.046 16.351 14.877 13.590 12.462 11.470 9.818 8.514 7.469 6.623 5.929 5.353 4.870 17.413 15.622 25 22.023 19.523 14.094 12.783 10.675 9.077 7.843 6.873 6.097 5.467 4.948 17.292 15.372 22.396 30 25.808 19.600 13.765 11.258 9.427 8.055 7,003 6.177 5.517 4.979 40 32.835 27.355 23.115 19.793 17.159 15.046 11.925 9.779 8.244 7.105 6.233 5.548 4.997 L ONCO Future Value of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% 1.010 1.020 1.030 1.040 1.050 1.060 1.080 1.100 1.120 1.140 1.160 1.180 1.200 2 1.020 1.040 1.061 1.082 1.103 1.124 1.166 1.210 1.254 1.300 1.346 1.392 1.440 1.030 1.061 1.093 1.125 1.158 1.191 1.260 1.331 1.405 1.482 1,561 1.643 1.728 1.041 1.082 1.126 1.170 1,216 1.262 1.360 1.464 1.574 1.689 1.811 1.939 2.074 2.488 1.051 1.104 1.159 1.217 1.276 1.338 1.469 1.611 1.762 1.925 2.100 2.288 6 1.062 1.126 1.194 1.265 1.340 1.419 1.587 1.772 1.974 2.195 2.436 2.700 2.986 7 1.072 1.149 1.230 1.316 1.407 1.504 1,714 1.949 2.211 2.502 2.826 3.185 3.583 8 1.083 1.172 1.267 1.369 1.477 1.594 1.851 2.144 2,476 2.853 3.278 3.759 4.300 1.094 1.195 1.305 1.423 1.551 1.689 1.999 2.358 2.773 3.252 3.803 4.435 5.160 4.411 10 1.105 1.219 1.344 1.480 1.629 1.791 2.159 2,594 3.106 3.707 5.234 6.192 11 1.116 1.243 1.384 1.539 1.710 1.898 2,332 2.853 3.479 4.226 5.117 6.176 7.430 12 1.127 1.268 1.426 1.601 1.796 2.012 2.518 3.138 3.896 4.818 5.936 7.288 8.916 10.699 13 1.138 1.294 1.469 1.665 1.886 2.133 2.720 3.452 4.363 5.492 6.886 8.599 12.839 14 1.149 1.319 1.513 1.732 1.980 2.261 2.937 3.797 4.887 6.261 7.988 10.147 15 1.161 1.346 1.558 1.801 2.079 2.397 3.172 4.177 5.474 7.138 9.266 11.974 15.407 20 1.220 1.486 1.806 2.191 2.653 3.207 4.661 6.727 9.646 13.743 19.461 27.393 38.338 25 4.292 26.462 1.282 1.641 2.094 2.666 3.386 6.848 10.835 17.000 40.874 62.669 95.396 30 237.376 1.348 1.811 2.427 3.243 4.322 5.743 10.063 17.449 29.960 50.950 85.850 143.371 40 10.286 93.051 1.489 2.208 3.262 4801 7,040 21.725 45,259 188.884 378.721 750.378 1,469.772 LO Future Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% 1.000 1.000 1.000 1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.010 2.020 2.040 2.050 2.060 2.120 2.160 2.180 2 2.030 2.080 2.100 2.140 2.200 3.030 3.060 3.122 3.506 3.572 5.215 3.091 3.153 3.184 3.246 3.310 3.374 3.440 3.640 4.060 4,122 4.246 4,310 4,375 5.066 4.184 4.506 4,641 4,779 4.921 5.368 5.416 5 5.101 5.204 5.309 5.526 5.637 5.867 6.105 6.353 6.610 6.877 7.154 7.442 8.115 8.977 6.152 6.308 6.468 6.633 6.802 6.975 7.336 7,716 8.536 9.442 9.930 10.089 10.730 7 7,214 7,434 7.662 7.898 8.142 8.394 8.923 9.487 11.414 12.142 12.916 10.637 13.233 16,499 8.286 8.583 8.892 9.214 9,549 9.897 11.436 12,300 14.240 15.327 11.027 14.776 17.519 19.086 9.369 9.755 10.159 10,583 11.491 12.488 13.579 16.085 20.799 10.462 10.950 12.006 13.181 14.487 17.549 10 11.464 12.578 15.937 19.337 21.321 23.521 25.959 14.972 11 11.567 12.169 12.808 13.486 14.207 16.645 18.531 20.655 23.045 25.733 28.755 32.150 16.870 21,384 12 12.683 13.412 14.192 15.026 15.917 18.977 24.133 27,271 30.850 34.931 39.581 17.713 18.882 24,523 28.029 32.089 37,581 36.786 42.219 13 13.809 14.680 15.618 16.627 21,495 48.497 17.086 18.292 19.599 21.015 43.672 14 14.947 15.974 24.215 27.975 32.393 50.818 59.196 17.293 18.599 21.579 51.660 15 16.097 20.024 23.276 27.152 31.772 37.280 43.842 60.965 72.035 24.297 26.870 29.778 36.786 91.025 20 22.019 33.066 45.762 57.275 72.052 115.380 146,628 186.688 25 28.243 36.459 41,646 54.865 73.106 98.347 342,603 32.030 47.727 133.334 181.871 249.214 471.981 30 34,785 47,575 56,085 79.058 113.283 356.787 790.948 40,568 66,439 164.494 241.333 530.312 1,181.882 1,342.025 2,360.757 4,163.213 7,343.858 40 75,401 95.026 259.057 442,593 48.886 60.402 120.800 154.762 767.091 ct LO Greyson Industries is evaluating whether to invest in solar panels to provide some of the electrical needs of its main office building in Charlotte, North Carolina. The solar panel project would cost $550,000 and would provide cost savings in its utility bills of $40,000 per year. It is anticipated that the solar panels would have a life of 15 years and would have no residual value. Read the requirements. Requirement 1. Calculate the payback period in years of the solar panel project Determine the formula, then calculate the payback period. (Round your answer to two decimal places.) Initial investment Payback period X Reference Present Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% 1 0.990 0.980 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 2 1.970 1.942 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.647 1.605 1.566 1.528 2.941 2.884 2.829 2.775 2.723 2.673 2.577 2.487 2.402 2.322 2.246 2.174 2.106 4 3.902 3.808 3.717 3.630 3.546 3.465 3.312 3.170 3.037 2.914 2798 2.690 2.589 4.853 4,713 4.580 4.452 4.329 4,212 3.993 3.791 3.605 3.433 3.274 3.127 2.99 5.795 5.601 5.417 5.242 5.076 4.917 4.623 4.355 4.111 3.889 3.685 3.498 3.326 7 6.728 6.472 6.230 6.002 5.786 5.582 5.206 4.868 4.564 4,288 4.039 3.812 3.605 8 7.652 7.325 7.020 6.733 6.463 6.210 5.747 5.335 4.968 4.639 4.344 4.078 3.837 7,108 8.566 8.162 7.786 7.435 6.802 6.247 5.759 5.328 4,946 4.607 4.303 4.031 6.145 10 9.471 8.983 8.530 8.111 7.722 7.360 6.710 5.650 5.216 4.833 4.494 4.192 11 10.368 9.787 9.253 8.760 8.306 7.887 7.139 6.495 5.938 5.453 5.029 4.656 4.327 12 11.255 10.575 9.954 9.385 8.863 8.384 7.536 6.814 6.194 5.660 5.197 4.793 4.439 13 12.134 11.348 10.635 9.986 9.394 8.853 7.904 7.103 6.424 5.842 5.342 4.910 4,533 14 13.004 12.106 11.296 10.563 9.899 9.295 8.244 7.367 6.628 6.002 5.468 5.008 4.611 13.865 12.849 15 11.938 11.118 10.380 9.712 8.559 7.606 6.811 6.142 5.575 5.092 4.675 20 18.046 16.351 14.877 13.590 12.462 11.470 9.818 8.514 7.469 6.623 5.929 5.353 4.870 17.413 15.622 25 22.023 19.523 14.094 12.783 10.675 9.077 7.843 6.873 6.097 5.467 4.948 17.292 15.372 22.396 30 25.808 19.600 13.765 11.258 9.427 8.055 7,003 6.177 5.517 4.979 40 32.835 27.355 23.115 19.793 17.159 15.046 11.925 9.779 8.244 7.105 6.233 5.548 4.997 L ONCO Future Value of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% 1.010 1.020 1.030 1.040 1.050 1.060 1.080 1.100 1.120 1.140 1.160 1.180 1.200 2 1.020 1.040 1.061 1.082 1.103 1.124 1.166 1.210 1.254 1.300 1.346 1.392 1.440 1.030 1.061 1.093 1.125 1.158 1.191 1.260 1.331 1.405 1.482 1,561 1.643 1.728 1.041 1.082 1.126 1.170 1,216 1.262 1.360 1.464 1.574 1.689 1.811 1.939 2.074 2.488 1.051 1.104 1.159 1.217 1.276 1.338 1.469 1.611 1.762 1.925 2.100 2.288 6 1.062 1.126 1.194 1.265 1.340 1.419 1.587 1.772 1.974 2.195 2.436 2.700 2.986 7 1.072 1.149 1.230 1.316 1.407 1.504 1,714 1.949 2.211 2.502 2.826 3.185 3.583 8 1.083 1.172 1.267 1.369 1.477 1.594 1.851 2.144 2,476 2.853 3.278 3.759 4.300 1.094 1.195 1.305 1.423 1.551 1.689 1.999 2.358 2.773 3.252 3.803 4.435 5.160 4.411 10 1.105 1.219 1.344 1.480 1.629 1.791 2.159 2,594 3.106 3.707 5.234 6.192 11 1.116 1.243 1.384 1.539 1.710 1.898 2,332 2.853 3.479 4.226 5.117 6.176 7.430 12 1.127 1.268 1.426 1.601 1.796 2.012 2.518 3.138 3.896 4.818 5.936 7.288 8.916 10.699 13 1.138 1.294 1.469 1.665 1.886 2.133 2.720 3.452 4.363 5.492 6.886 8.599 12.839 14 1.149 1.319 1.513 1.732 1.980 2.261 2.937 3.797 4.887 6.261 7.988 10.147 15 1.161 1.346 1.558 1.801 2.079 2.397 3.172 4.177 5.474 7.138 9.266 11.974 15.407 20 1.220 1.486 1.806 2.191 2.653 3.207 4.661 6.727 9.646 13.743 19.461 27.393 38.338 25 4.292 26.462 1.282 1.641 2.094 2.666 3.386 6.848 10.835 17.000 40.874 62.669 95.396 30 237.376 1.348 1.811 2.427 3.243 4.322 5.743 10.063 17.449 29.960 50.950 85.850 143.371 40 10.286 93.051 1.489 2.208 3.262 4801 7,040 21.725 45,259 188.884 378.721 750.378 1,469.772 LO Future Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% 1.000 1.000 1.000 1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.010 2.020 2.040 2.050 2.060 2.120 2.160 2.180 2 2.030 2.080 2.100 2.140 2.200 3.030 3.060 3.122 3.506 3.572 5.215 3.091 3.153 3.184 3.246 3.310 3.374 3.440 3.640 4.060 4,122 4.246 4,310 4,375 5.066 4.184 4.506 4,641 4,779 4.921 5.368 5.416 5 5.101 5.204 5.309 5.526 5.637 5.867 6.105 6.353 6.610 6.877 7.154 7.442 8.115 8.977 6.152 6.308 6.468 6.633 6.802 6.975 7.336 7,716 8.536 9.442 9.930 10.089 10.730 7 7,214 7,434 7.662 7.898 8.142 8.394 8.923 9.487 11.414 12.142 12.916 10.637 13.233 16,499 8.286 8.583 8.892 9.214 9,549 9.897 11.436 12,300 14.240 15.327 11.027 14.776 17.519 19.086 9.369 9.755 10.159 10,583 11.491 12.488 13.579 16.085 20.799 10.462 10.950 12.006 13.181 14.487 17.549 10 11.464 12.578 15.937 19.337 21.321 23.521 25.959 14.972 11 11.567 12.169 12.808 13.486 14.207 16.645 18.531 20.655 23.045 25.733 28.755 32.150 16.870 21,384 12 12.683 13.412 14.192 15.026 15.917 18.977 24.133 27,271 30.850 34.931 39.581 17.713 18.882 24,523 28.029 32.089 37,581 36.786 42.219 13 13.809 14.680 15.618 16.627 21,495 48.497 17.086 18.292 19.599 21.015 43.672 14 14.947 15.974 24.215 27.975 32.393 50.818 59.196 17.293 18.599 21.579 51.660 15 16.097 20.024 23.276 27.152 31.772 37.280 43.842 60.965 72.035 24.297 26.870 29.778 36.786 91.025 20 22.019 33.066 45.762 57.275 72.052 115.380 146,628 186.688 25 28.243 36.459 41,646 54.865 73.106 98.347 342,603 32.030 47.727 133.334 181.871 249.214 471.981 30 34,785 47,575 56,085 79.058 113.283 356.787 790.948 40,568 66,439 164.494 241.333 530.312 1,181.882 1,342.025 2,360.757 4,163.213 7,343.858 40 75,401 95.026 259.057 442,593 48.886 60.402 120.800 154.762 767.091 ct LO