Assume the following facts:A project will cost $45,000 to develop. When the system becomes operational, aftera one-year development period, operational costs will be $9,000 during each year ofthe systems five-year useful life. The system will produce benefits of $30,000 in thefirst year of operation, and this figure will increase by a compound 10% each year.What is the payback period for this project?………Complete the Cost Analysis Project #2 under Exercises at the end of Chapter 7 of the text.Use the spreadsheet method depicted in Part C of the Systems Analysts Toolkit to display the Net Present Value of the systemToolkit CWrite a response of approximately 250 words summarizing how you derived at your answer.
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