Please show complete work using standard factor notation. All required information is shown. Answer parts a through d.

The board of directors of Halliburton International just approved an $13 million world-wide engineering construction design contract. The services are expected to generate new annual net revenue of $3 million. The contract has a potentially lucrative repayment clause or cancellation value [CV11 of $3 million paid to Halliburton at any time the contract is canceled during the 10 years of the contract period. Calculate the payback period, assuming a cancelled contract with the CV occurring at the payback period. Use MARI-t = 10%. Round your response to the nearest tenth of a year. a} Payback equation: b} PW calculations c} Interpolation work d} Payback period [rip]