Please show step-by-step solutions and explanations. Thanks! (Practice exam question)

Your favorite restaurant buys a new refrigerator for $2000. Each year, it saves the owners $400 in energy bills. a) What is your favorite restaurant? b) If we consider the refrigerator as an infinite horizon simple investment, what is the simple rate of return, d? c) What is the simple payback period? d) For the same refrigerator and savings, consider a lifetime of 11 years. Setup the equation to solve for the internal rate of return (IRR), but do not solve. e) Using the table provided below, what is the internal rate of return (IRR)? Internal Rate of Return (%) Life (yr) 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 16% 18% 20% 22% 5 4.58 4.45 4.33 4.21 4.10 3.99 3.89 3.79 3.60 3.43 3.27 3.13 2.99 2.86 5.42 5.24 5.08 4.92 4.77 4.62 4.49 4.36 4.11 3.89 3.68 3.50 3.33 3.17 6.23 6.00 5.79 5.58 5.39 5.21 5.03 4.87 4.56 4.29 4.04 3.81 3.60 3.42 7.20 6.73 6.46 6.21 5.97 5.75 5.53 5.33 4.97 4.64 4.34 4.08 3.84 3.62 7.79 7.44 7.11 6.80 6.52 6.25 6.00 5.76 5.33 4.95 4.61 4.30 4.03 3.79 10 8.53 8.11 7.72 7.36 7.02 6.71 6.42 6.14 5.65 5.22 4.83 4.49 4.19 3.92 11 9.25 8.76 8.31 7.89 7.50 7.14 6.81 650 5.94 5.45 5.03 4.66 4.33 4.04 12 9.95 9 8.86 8.38 7.94 7.54 7.16 6.81 6.19 5.66 5.20 4.79 4.44 4.13 13 10.63 9.99 9.39 8.85 8.36 7.90 7.49 7.10 6.42 5.84 5.34 4.91 4.53 4.20 14 11.30 10.56 9.90 9.29 8.75 8.24 7.79 7.37 6.63 6.00 5.47 5.01 4.61 4.26 11.94 11.12 10.38 9.71 9.11 8.56 8.06 7.61 6.81 6.14 5.58 5.09 4.68 4.32 20 14.88 13.59 12.46 11.47 10.59 9.82 9.13 8.51 7.47 6.62 5.93 5.35 4.87 4.46 25 17.41 15.62 14.09 12.78 11.65 10.67 9.82 9.08 7.84 6.87 6.10 5.47 4.95 4.51 30 19.60 17.29 15.37 13.76 12.41 11.26 10.27 9.43 8.06 7.00 6.18 5.52 4.98 4.53 "Enter the row with project life, move across to values close to your simple payback, move up to read IRR. A 15-year project with a 5-year simple payback has an IRR a bit over 186