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Use formula to solve it. Ty at le cost per mile to own and operate this Prius? Question 3 [3 points]. The University at Buffalo

image text in transcribedUse formula to solve it. Ty
at le cost per mile to own and operate this Prius? Question 3 [3 points]. The University at Buffalo is interested in interested in reducing the lighting costs for Bell Hall. For each of the last several years, UB has paid $244,000 to light the building due to its inefficient fluorescent lighting system. After some consultation they expect to be able to reduce this they upgraded to a more energy efficient LED lighting system. Purchasing and installing the system, including rewiring the entire building, will cost $610,000 to purchase and will require $36,600 per year in maintenance costs. UB anticipates that the LED lighting system will be used for the next 25 years. After this time they anticipate doing another upgrade and selling the scrapping the system components for 1% of the initial purchase cost. Should UB upgrade the lighting system? To answer this question, determine the net annual benefit if UB invested in this new system. Assume that UB's MARR is 11% and that the old system will also last for 25 years. annual cost by 40% if

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