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Alexander Industries, in Chicago, plans to take advantage of the winds blowing in from Lake...

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Accounting

Alexander Industries, in Chicago, plans to take advantage of the winds blowing in from Lake Michigan. Alexander is developing a project to install a wind turbine that would generate electricity and reduce energy costs. The turbine would have an initial cost of $500,000 and would provide a net cost savings of $57,000 per year. The turbine will have a life of 25 years. What is the payback period, in years, for the wind turbine? A. 25 years B. 9.08 years C. 8.77 years D. 28.75 years

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