A major equipment purchase is being considered by Metro Atlanta. The initial cost is determined to be $1,000,000. It is estimated that this new equipment will save $100,000 the first year and increase gradually by $50,000 every year for the next 6 years. MARR=10% Please note you need 8.1. The payback period for this equipment purchase.

Fig: 1

Fig: 2

Fig: 3