The most possible values of an investment project are as follows:

First cost, $	300,000
Annual operating cost, $	10,000
Annual benefit, $	120,000
Salvage value, $	80,000
Life, year	30
MARR per year	15%

Consider the cash flow given;

1. Calculate the payback period with time value.
2. Calculate the B/C ratios based on both PW and AW.