A4000 m2 cultivated land (slope 1%) and a connected meadow (slope 5%) half the size of the cultivated land are to be developed. a residential lot will cover the area of cultivated land. the meadow will then be developed into a parking lot that will cover ¾ of the area and the remainder will be developed into streets. the cultivated land has soil type d while the meadow has soil type b, and there is no change in either soil type or slopes after development. use the baltimore idf curve.

An external consultant recommends that a plant installs a bank of capacitors for power factor correction. this will reduce the peak electrical demand charges by an average of 93 kw every month. the plant current pays $13 per kw in peak demand charges. the capacitor bank will include 223 kw of fixed capacitors, and 183 of variable capacitors. the fixed capacitors cost $59 per kw, and the variable capacitors will cost $65 per kw. the consultant charges 21% of the equipment costs to install the capacitors. because this project will reduce the demand for the electric utility, they are prepared to provide a one-time rebate of $42 per kw of reduced demand. what is the simple payback period for this project (in years)?