Toronto Shakespearean Theaters board of directors is considering the replacement of the theaters 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 $90,950 and save the theater $19,000 annually for the next eight years.

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. (Round "Annuity Discount Factor" to 3 decimal places. Negative amounts of "Net Present Value" should be indicated by a minus sign.) Annual Present Value Acquisition Net Present of Annual Discount Annuity Discount Savings Value Cost Factor Savings 8% 10% 12% 14% 16%