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Please use the formula on a piece of paper to show the work NOT excel sheet A project has the following financial considerations: initial cost

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A project has the following financial considerations: initial cost of $30,000, net revenues of $6,000 the second year, increasing by $500 thereafter for the next year for 10 years (i.e., revenue = 0 the ISt year, $6,000 the 2nd year, $6,500 the 3rd year, and so on) salvage value of $10,000 at the end of the 8th year MARR is 6%/year Please be sure to answer both part a and b of this question. a. What is the undiscounted paybacl < period for this project? b. What is the present value equivalent of the project cash flows over the entire 8 year period?

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