Exhibit $1$: The expected cash flows in US$ from the project in Ohio and Virginia.

Year Cashflow $($Ohio$)$ Cash flow $($VA$)$

$0(2,000,000)(2,550,000)$

$1450,000350,000$

$2558,000185,000$

$3562,000205,000$

$4587,000300,000$

$5600,000370,000$

$6625,000590,000$

$7630,000500,000$

$8685,000483,000$

$9690,000480,000$

$10692,000620,000$

a$.$ Calculate the payback period $($PBP$)$ for the two projects.

b$.$ Calculate the profitability Index $($PI$)$ for the two projects.

c$.$ Calculate the Internal Rate of Return $($IRR$)$ for the two projects.

d$.$ Calculate the Net Present Value $($NPV$)$ for the two projects.

e$.$ Use the NPV technique to recommend which investment project it should accept, assuming the cost of capital of financing the Ohio project is $12\%$ and $10\%$ for the Virginia project?