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Question 1 (30 Points): A furnace is being considered for the incineration of medical wastes at a local hospital. The initial investment is $300,000 and annual savings are expected to be $175,000 over the six- year life of the furnace. Annual expenses will be $100,000 at the end of year one and will increase by $5,000 each year thereafter. The resale value of the furnace after six years is $20,000. a) Construct a Cashflow diagram for the investment. (5 Points) b) Determine the discounted payback period of the furnace if the interest rate is 8% per year. (12 Points) c) Determine the Rate of Return of the investment using interpolation. (13 Points)