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For an optimum recovery of an oil field, two enhanced oil recovery (EOR) techniques. namely waterflooding and water alternating gas (WAG) injection processes will be evaluated economically. The investment and production performance schedules for both processes are provided as below. INVESTMENT (10008) Years 2020 2021 2022 WATERFLOOD Wells 15000 3000 Other's 5000 5000 2000 WAG PROCESS Wells Others 10000 7000 4000 10000 4000 12000 Oil Price: 45 $/bbi Operation Cost: 10.5 $/bbl for water flood 15.5 $/bbl for WAG process PRODUCTION PERFORMANCE Oil Production (WAG) Years 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Oil Production (Waterflood) (BOPD) 6420 6415 5628 5058 4621 4088 3885 3681 3498 3340 (BOPD) 3160 7406 10166 9841 8955 7195 5860 4880 4218 3701 Depreciation Charge: 30% of the investment for wells and 100% of the investment for the other equipment will be depreciated by the straight line through the life-time of the plan Royalty: 1/8*Gross production/income Based on the provided data, compare both alternatives (Waterflooding & WAG) based on a) Payout time, b) Discounted net profit to investment ratio (using discount rate of 24%). c) Present worth of after-tax net cash flow (using discount rate of 24%). d) Discounted cash flow rate of retur (DCFROR) if the MARR is 46%. For an optimum recovery of an oil field, two enhanced oil recovery (EOR) techniques. namely waterflooding and water alternating gas (WAG) injection processes will be evaluated economically. The investment and production performance schedules for both processes are provided as below. INVESTMENT (10008) Years 2020 2021 2022 WATERFLOOD Wells 15000 3000 Other's 5000 5000 2000 WAG PROCESS Wells Others 10000 7000 4000 10000 4000 12000 Oil Price: 45 $/bbi Operation Cost: 10.5 $/bbl for water flood 15.5 $/bbl for WAG process PRODUCTION PERFORMANCE Oil Production (WAG) Years 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Oil Production (Waterflood) (BOPD) 6420 6415 5628 5058 4621 4088 3885 3681 3498 3340 (BOPD) 3160 7406 10166 9841 8955 7195 5860 4880 4218 3701 Depreciation Charge: 30% of the investment for wells and 100% of the investment for the other equipment will be depreciated by the straight line through the life-time of the plan Royalty: 1/8*Gross production/income Based on the provided data, compare both alternatives (Waterflooding & WAG) based on a) Payout time, b) Discounted net profit to investment ratio (using discount rate of 24%). c) Present worth of after-tax net cash flow (using discount rate of 24%). d) Discounted cash flow rate of retur (DCFROR) if the MARR is 46%