$($Click the icon to view the present value factor table.$)($Click the icon to view the present value annuity factor table.$)$

Read the requirements.

Requirement $1.$ What is the payback time?

Begin by selecting the formula and then entering the amounts to calculate the payback period. $($Round the payback to the nearest whole number.$)$ I $\backslash (=\backslash )$ Payback period $/\backslash (=\backslash$quad $\backslash )$ years

Requirement $2.$ Compute the NPV if the required rate of return is $\backslash (5\backslash \%\backslash ).$ Should the department buy the heater? Why?Present value of Ordinary Annuity of $\backslash$$$1$ at $6$ years, $5\backslash \%$Annual Cash InflowTotal Present ValuePresent value of annuity of equal annual net cash inflows

Should the City of New York parks department buy the heater? Why?

New York City parks department should the proposal because the NPV is $\text{'}$