Determine the capacitor rating in kVAR and also in farads to improve the load pf from 0.75

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Determine the capacitor rating in kVAR and also in farads to improve the load pf from 0.75 lagging to 0.95 lagging at a three-phase, 60-Hz, 480-V distribution point delivering 2400-kW real power. Assume that the motor runs for 400 h per month, the utility demand charge is $15/kVA, the energy charge is $0.15/kWh, the capacitor cost is $70/kVAR installed, and the cable power loss is 1% per phase.

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