Write down the formula to calculate the discount factor:

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Write the down the formula for calculating ROI. _______________________________________________________________________

Discount rate	12%
Project 1	Year 1	Year 2	Year 3	Year 4	Year 5	TOTAL
Costs	220,000	35,000	35,000	25,000	20,000	?
Discount factor	?	?	?	?	?
Discounted costs	?	?	?	?	?	?
Benefits	0	80,000	80,000	65,000	60,000	?
Discount factor	?	?	?	?	?	?
Discount benefits	?	?	?	?	?	?
Discounted benefits Discounted costs (NPV)	--------	---------	---------	----------	-----------	?
ROI =	???
PAYBACK PERIOD IS WHAT YEAR?	???