Owners of an economy motel chain are considering building a new 20-unit motel. The present worth cost of building the motel is $8,000,000; the firm estimates furnishings for the motel will cost $800,000 and will require replacement every 5 years. Annual operating and maintenance costs for the facility are estimated to be $800,000. The average rate for a unit is anticipated to be $60/day. A 15-year planning horizon is used by the firm in evaluating new ventures of this type; a terminal salvage value of 15% of the original building costs is anticipated; furnishing are estimated to have no salvage value at the end of each 5-year replacement interval. Assuming average daily occupancy percentages of 50%, 60%, 70%, 80% for years 1 through 4, respectively, and 90% for the fifth and each remaining year, MARR of 12%, 365 operating days/year, and ignoring the cost of the land, should the motel be built? Base your decision upon, the following values: Present worth Annual worth Future worth External rate of return