With the high costs of fossil fuels, a plant decided to invest in wind turbines to generate electricity. This environmentally friendly initiative attracted a lot of investors. The top management identified various forms of funding with their corresponding cost - Business Angels (1,500,000 with an explicit cost of 10%); Government Aid (750,000 with an explicit cost of 15%); and Bonds (1,000,000 with an explicit cost of 18%). 1. What is the company's MARR? (2 pts) 2. What is the ERR if the reinvestment rate is 7% ? Based on MARR, is the project recommendable? (8 points) 3. What is the discounted payback period? (5 points)