A project team is doing an improvement project to increase the output from a particular process. After the completion of the project the cycle time for producing product X is reduced from $60$ seconds to $45$ seconds. They work for $25$ days a month and $12$ hours per day. The profit earned by selling one unit of product X is Rupees $2\mathrm{.}40.$ The schedules for supplying the product X is unlimited. For implementing this project the team proposes installing a new machine worth Rupees $2\mathrm{.}5$ lakhs and involves appointing one new operator whose wages are Rupees $1750$ for $12$ hours working day. By reducing the cycle time the delivery performance has improved, customer is happy and the in$-$process inventory are also substantially reduced

Determine the following

$1.$ The financial savings if any

$2.$ The payback period

$3.$ Return on Investment

$4.$ Is it worth investing in this improvement project?

$5.$ What are the other benefits involved?

$6.$ What is the level of the project?