Solve using the present value and future value formulas. give full solution with answers.

The province of Ontario is planning to construct a new hydropower plant to help make energy prices more affordable, as well as to support improved public health and environmental quality. The construction of the hydropower plant will start by the beginning of $2023$ and will take $3$ years at a cost of $\backslash (\backslash$$ $200\backslash )$ million per year. The cost of maintenance and repairs, which is to start after project completion, is expected to be $\backslash (\backslash$$ $5\backslash )$ million for the first $6$ years, and to increase by $\backslash (\backslash$$ $50,000\backslash )$ per year thereafter. The scrap value of the hydropower plant is estimated to be $\backslash (\backslash$$ $25\backslash )$ million at the end of its service life. The project is expected to save the province $\backslash (\backslash$$ $55\backslash )$ million per year in energy savings. Assume the present to be the end of $2017/$beginning of $2018,$ the life of the project is till the end of year $2060,$ and the interest rate to be $\backslash (5\backslash \%\backslash ).$

a$)$ Draw a cash flow diagram for this project $($from present till $2060).$

b$)$ What is the Present Worth of the project?

$(7$ Marks$)$

c$)$ What is the Future Worth of the project?

d$)$ Is it a good investment for the province to make?