Question: please show all work A major equipment purchase is being considered by Metro Alabama. The initial cost is determined to be $1,000,000. It is estimated

please show all work

A major equipment purchase is being considered by Metro Alabama. The initial cost is determined to be $1,000,000. It is estimated that this new equipment will save $100,000 the first year and increase gradually by $50,000 every year for the next 6 years. MARR=10\% The payback period for this equipment purchase. A) 8 years B) 6 years C) 5 years D) 10 years

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