Compute the MARR for the following project. ) Choose between two projects below using the "Annual Equivalence" with the same length of project life. A manufacturing company decides to buy

solar cells in anticipation of rising electricity costs. The company is modeling its purchase to have (i) $20,000 for the first year, and this saving increases 5% each year for the next 20years as the solar cells generate enough electricity to compensate for the rising power bills. The expected rate of return for the company equals 8%. (ii) $40,000 for the first year, and this saving increases 6% each year for the next 15years as the solar cells generate enough electricity to compensate for the rising power bills. The expected rate of return for the company equals 8%.