Multiple Choice
Alexander Industries,in Chicago,plans to take advantage of the winds blowing in from Lake Michigan.Alexander is developing a project to install a wind turbine that would generate electricity and reduce energy costs.The turbine would have an initial cost of $500,000 and would provide a net cost savings of $57,000 per year.The turbine will have a life of 25 years.
What is the payback period,in years,for the wind turbine?
A) 8.77 years
B) 9.08 years
C) 25 years
D) 28.75 years
Correct Answer:
Verified
Correct Answer:
Verified
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