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Vancouver Shakespearean Theater$$s board of directors is considering the replacement of the theater$$s lighting system. The old system requires two people to operate it$,$ but the new system would require only a single operator. The new lighting system will cost $$43,200$ and save the theater $$9,000$ annually for the next eight years.

Use Appendix A for your reference. $($Use appropriate factor$($s$)$ from the tables provided.$)$

Required:

$1-$a$.$ Prepare a table showing the proposed lighting system$$s net present value for each of the following discount rates: $8$ percent, $10$ percent, $12$ percent, $14$ percent, and $16$ percent.

$1-$b$.$ Based on your findings in requirement $1-$a$.,$ Which statement is true?