Question: Ace Manufacturing is building a new Platinum Level LEED certified facility that will cost $44M. Ace will borrow $40M from First National Bank and pay

Ace Manufacturing is building a new Platinum Level LEED certified facility that will cost $44M. Ace will borrow $40M from First National Bank and pay the remainder immediately as a down payment. Ace will pay 7% interest but will make no payments for 4 years, at which time the entire amount will be due. 3-23 G

a. How large will Ace's payment be?

b. What is LEED, by whom was it devised, and why?

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