1. Your favorite restaurant buys a new refrigerator for $2000. Each year, it saves the owners...

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1. Your favorite restaurant buys a new refrigerator for $2000. Each year, it saves the owners $267 in energy bills. a) What is your favorite restaurant? b) If we consider the refrigerator as an infinite horizon simple investment, what is the simple rate of return, d? c) What is the simple payback period? I d) For the same refrigerator and savings, consider a lifetime of 11 years. Setup the equation to solve for the internal rate of return (IRR), and use a solver (Wolfram Alpha, Excel, Graphing Calculator) to find the IRR. 1. Your favorite restaurant buys a new refrigerator for $2000. Each year, it saves the owners $267 in energy bills. a) What is your favorite restaurant? b) If we consider the refrigerator as an infinite horizon simple investment, what is the simple rate of return, d? c) What is the simple payback period? I d) For the same refrigerator and savings, consider a lifetime of 11 years. Setup the equation to solve for the internal rate of return (IRR), and use a solver (Wolfram Alpha, Excel, Graphing Calculator) to find the IRR.