Mark's Ceramics spent $4000 on a new kiln last year in the belief that it would cut energy usage 25% over the old kiln. This kiln is an oven that turns "greenware" into finished pottery. Mark is concerned that the new kiln requires extra labor hours for its operation. Mark wants to check the energy savings of the new oven, and also to look over other measures of their productivity to see if the change really was beneficial. Mark has the following data to work with:
Were the modifications beneficial?
Definitions:
Face Value
The original value of a financial instrument as stated on the instrument itself, such as the principal value of a bond or the value printed on a stock certificate.
Zero-Coupon Bonds
Bonds that do not pay periodic interest payments but are issued at a deep discount and redeemable for their face value at maturity.
Market Rate
The typical or prevailing interest rate available in the market for financial instruments or loans.
New Equipment
Assets purchased for business operations that haven't been used before, representing investment in operational efficiency or capacity expansion.
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