A retrofitted space-heating system is being considered for a small office building. The system can be purchased and installed for $111,000, and it will save an estimated 320,000 kilowatt-hours (kWh) of electric power each year over a six-year period. A kilowatt-hour of electricity costs $0.12, and the company uses a MARR of 16% per year in its economic evaluations of refurbished systems. The market value of the system will be $7,000 at the end of six years, and additional annual operating and maintenance expenses are negligible. Use the benefit-cost method to make a recommendation. Click the icon to view. the interest and annuity table for discrete compounding when the MARR is 16% per year. The benefit-cost ratio of the system with PW is (Round to two decimal places.)