Batangas City Rural Improvement Club

Project Feasibility Studies Page 1 of 18

 Batangas City Rural Improvement Club

Project Feasibility Study Brief Template

Project Profile: Feasibility Study for the Production of Dried Fruits and Vegetables
Company Name: Batangas City Rural Improvement Club Processing and Packaging Center
Key Contact:
Position:
Asset Size: Year Established:
Telephone Number: Mobile Number:
Email Address: Website:
Number of Employees: Permanent: Contractual: Seasonal:
Product/ Services:

I. Rationale Increase in the production of food like vegetables and fruit as well as the raising
of farm animals had marked Batangas City through the efforts of the Office of
City Veterinarian and Agricultural Services. The continuous patronages of the
farmers in new technologies help them to raise their harvest. However, the
increase in harvest doesn’t mean that there is increase in their income. There are
times that the harvest spoiled due to the lack of facilities to process those
harvests.

The only solution to this problem is to process these harvests to preserve and
make it last longer compare to its natural rate of spoilages. To address this
problem, OCVAS and other government agencies established a Shared Service
Facilities where there are available equipment that will let this harvest increase
the value added of the harvest. However, there are still lacks of idea on what
product should be produced out of these facilities.

On the midst of the operation, this shared service facilities were granted to
specific organization and cooperatives that will be in-charge in managing this
facilities. In addition, this SSF will also be available to other users but they need
to pay minimum amount for the maintenance of the equipment.

One of these is the Batangas City Rural Improvement Club. BCRIC is a federation
of different improvement clubs in Batangas City that manages the Pasalubong
Center located near in Batangas Basilca Church.

Since this facility was granted to the federation, they will be in-charged of
managing for their own usage as well as for other entity who will rent. Herewith,
the need for conducting a feasibility study arises. It is very important to ascertain
the viability of the three aspect of the project; technical, financial and marketing.

However, BCRIC produces a variety of agricultural crops, it is very challenging to

conduct a project feasibility that will cover wide range of product variety. To
address this issue, this study focuses on two main products, the pickled papaya
and dried mango. This was the most abundant and not seasonal product
available in Batangas.
II. Objectives 1. To provide technical descriptions of manufacturing pickled papaya and dried
mango.
2. To fully commercialized the abovementioned products
3. To ascertain financial feasibility for the operation of the aforementioned
product.
III. Project Description The project focuses on the production and commercialization of pickled papaya
and dried mango. At the same time the rental services for the SSF awarded to
them were considered.

The product will be sold mainly within Batangas province specifically to the
pasalubong centers. However, if need arises, these will also be distributed within
CALABARZON especially if there are a lot of inventory. The pickled papaya will be
bought per bottle weighing 120 g while the dried mango will be bought in a
vacuum sealed plastic weighing 100 g. The size of the product is based on the
market. The pickled papaya has a price of PHP50.00 while dried mango is
PHP50.00 also. The primary strategy to be utilized by BCRIC to promote the
products is the trade fair which will incur an expense amounting to PHP2,000. On
the other hand, rentals of Shared Service Facilities will not be promoted since the

Project Feasibility Studies Page 2 of 18

 Batangas City Rural Improvement Club

OCVAS and common users are aware of this service.

Manufacturing of the two products will be on daily basis for Pickled papaya while
weekly basis for dried mango. For pickled papaya, within a year it is estimated to
produce 150 bottles per day or 43,200 bottles per year (using 288 days annual
basis). Meanwhile BCRIC is expected to produce 1000 packs of dried mango per
week or 54,000 packs for the first year of operation. Within a week, rentals for
SSF is available except for Heavy Duty Dehydrator during Monday, Tuesday, and
Wednesday, vacuum sealer during Thursday, Friday, and Saturday- 9:00-10:00
AM and heavy duty sterilizer Monday to Saturday 3:00-4:00 PM.

It is expected to have an net income of PhP944, 250 for pickled vegetables and
PhP1, 508, 322 for dried fruits on the first year of operation. The rentals for the
SFF are included in the computation of the net income for two products.
IV. Current Market Trends The Global Fruit and Vegetables Processing industry has experienced consistent
and Opportunities demand over the five years to 2016, as economies of every size continue to
consume processed fruits and vegetable products and consumer spending
increases. Demand has grown particularly faster in developing economies as
industrial growth has translated into greater urbanization, higher per capita
incomes and expansion in the size of the middle class. As the global middle class
has grown, it has demanded larger quantities of higher quality and more-diverse
food. Increased consumption of fruits and vegetables can be attributed to more
households becoming health centered. While competition from fresh produce
poses a threat, demand for industry staples such as juice and tomato-based
products continues to grow across the global market.

Consequently, industry operators have increased their output to meet this

growth in global demand.

As a result, IBISWorld expects the Global Fruit and Vegetables Processing industry
to grow at an annualized rate of 2.0% over the five years to 2016. In 2016,
industry revenue is forecast to grow 1.5% to $274.0 billion. Industry revenue is
expected to expand at an annualized rate of 3.0% over the five years to 2021,
reaching $317.1 billion. Industry demand is expected to increase as producers
focus on nutritious ingredients and less invasive processing techniques in order
to keep products as organic as possible. In addition, while the bulk of fruit and
vegetable processing is currently done in North America and Europe, industry
production is expected to steadily shift to other parts of the globe, particularly
China. While China currently produces about half of the world's vegetables and
one-third of the world's fruit (by tonnage), the majority of this output is
unprocessed. As Chinese consumers increase their demand for industry products,
Chinese fruit and vegetable processing is expected to expand. This trend is
expected to continue across the emerging economies.

Source: IBISWorld Report, April, 2016

Project Feasibility Studies Page 3 of 18

 Batangas City Rural Improvement Club

Technical Aspect of the Project

Preparation of Raw Materials

Worker 1&2 (20 minutes)
8:00-8:20

Washing of Raw Materials

Worker 1&2 (10 minutes)
8:20- 8:30

Peeling, Slicing, and Shredding of

Raw Materials
Worker 1&2 (120 minutes)
8:30 – 10:30

Weighing the raw materials Preparing the Liquid Mixture

Worker 1 (10 minutes) Worker 2 (10 minutes)
10:30-10:40 10:30-10:40

Mixing the raw materials and the liquid

mixture
Worker 1&2 (20 minutes)
10:40-11:00

Sterilizing the bottle

Worker 2 (15 minutes)
Soaking
11:00-11:15
Worker 1 (60 minutes)
11:00-12:00

Cooling the bottle

Worker 1& 2 (45 minutes)
11:15- 12:00

Bottling
Worker 1&2 (90 minutes)
12:00- 1:00

Weighing
Worker 1&2 (90 minutes)
1:00-2:00

Inspection (60 minutes) Yes

2:00-3:00
Reject?

No

Sealing
Worker 1&2 (60 minutes)
3:00-4:00

Storage
4:00-5:00 Cleaning 1&2 (60 minutes)
4:00-5:00

Figure 1. Process Flow-chat of Pickled Papaya

Project Feasibility Studies Page 4 of 18

 Batangas City Rural Improvement Club

Direct Materials
Annual production (288 days)
Particulars Quantity Price per unit Amount
Papaya 996 Kg PHP35.00 PHP 34,854.19
Salt 86Kg PHP2.50 PHP214.46
Carrots 15Kg PHP60.00 PHP900.00
bell pepper 50Kg PHP220.00 PHP11,000.00
Garlic 300Kg PHP212.50 PHP63,739.38
Vinegar 381Gal PHP50.00 PHP19,050.00
Sugar 1440 Kg PHP55.00 PHP79,186.80
Total amount PHP208,944.83

Factory Tools

Particulars Quantity Price per unit Amount

weighing scale (digital 7kg LCD) 2 sets (LCD 7 Kg) 800 1,600.00
Casserole 3 Units 999 2,997.00
mixing bowl 4 Units 125 500.00
plastic gloves 5 Boxes 54 270.00
hair nets 3 Boxes 10 30.00
Knife 2 Units 25 50.00
chopping board 2 Units 45 90.00
Grater 1 Units 59.75 59.75
Spatula 1 Set 350 350.00
measuring cups 1 Sets 325 325.00
measuring spoons 1 Sets 240 240.00
Pot holder 4 Uits 10 40.00
Total Amount 6, 511.75

Indirect Materials

Particulars Quantity Price per unit Amount

glass jar 43200 12.27 530064
Label 43200 0.75 32400
plastic seal 43200 0.75 32400
Box 3600 2.5 9000
Total Amount 603, 864

Equipment and Machine

Total
Particulars Amount Price per unit
Amount
Gas Stove 1 749 749
LPG tank 1 1000 1000
Heavy Duty Sterilizer 1 34,000 34000
Working Tables 1 9800 9800
Total Amount 45549

Project Feasibility Studies Page 5 of 18

 Batangas City Rural Improvement Club

Manufacturing Process for Dried Fruits and Vegetables

Day 1

Preparation of Raw Materials

30 mins
W1 & W2- 8:00- 8:30

Preparation of Mixtures
60 mins
W2- 8:30AM-9:30AM

Peeling and Slicing the Fruits Heating the Syrup

120 mins 45 mins
W1- 9:30AM- 11:30PM W2- 9:30-10:15
W2- 810:15AM-11:30PM

Combining the sliced fruits and

Mixtures
30 mins
11:30AM –12:00AM

Osmosis
180 mins
12:00NN – 3:00 AM

Draining the Mango from the

solution
10 mins
W1&W2- 3:00PM-3:10AM

Putting the mango on tray

20 mins
W1&W2- 3:10AM-3:30AM

Drying of mango in Dehydration

machine (Batch 1) Cleaning the facilities
1,440 mins (24 hours) 90 mins)
3:30 PM – 3:30 PM W1& 2- 3:30 PM – 5:00 PM

Project Feasibility Studies Page 6 of 18

 Batangas City Rural Improvement Club

Day 2

Preparation of Raw Materials

30 mins
W1 & W2- 8:00- 8:30

Preparation of Mixtures
60 mins
W2- 8:30AM-9:30AM

Peeling and Slicing the Fruits Heating the Syrup

120 mins 45 mins
W1- 9:30AM- 11:30PM W2- 9:30-10:15

Combining the sliced fruits and

Mixtures
30 mins

Osmosis
180 mins
12:00NN – 3:00 AM

Draining the Mango from the

solution
10 mins
W1&W2- 3:00PM-3:10AM

Putting the mango on tray

20 mins
W1&W2- 3:10AM-3:30AM

Drying of mango in Dehydration Harvesting (Batch 1)

machine (Batch 2) Cleaning the facilities
30 mins
1,440 mins (24 hours) 90 mins)
3:30 PM – 4:00 PM
3:30 PM – 3:30 PM W1& 2- 3:30 PM – 5:00 PM

Sweating (Batch 1)
2 days
4:00 PM – 4 PM (another day)

Project Feasibility Studies Page 7 of 18

 Batangas City Rural Improvement Club

Day 3

Preparation of Raw Materials

30 mins
W1 & W2- 8:00- 8:30

Preparation of Mixtures
60 mins
W2- 8:30AM-9:30AM

Peeling and Slicing the Fruits Heating the Syrup

120 mins 45 mins
W1- 9:30AM- 11:30PM W2- 9:30-10:15

Combining the sliced fruits and

Mixtures
30 mins

Osmosis
180 mins
12:00NN – 3:00 AM

Draining the Mango from the

solution
10 mins
W1&W2- 3:00PM-3:10AM

Putting the mango on tray

20 mins
W1&W2- 3:10AM-3:30AM

Drying of mango in Dehydration Harvesting (Batch 2)

machine (Batch 3) 30 mins
1,440 mins (24 hours) 3:30 PM – 4:00 PM
3:30 PM – 3:30 PM

Sweating (Batch 2)
2 days Cleaning the facilities
4:00 PM – 4 PM (another day) 90 mins)
W1& 2- 3:30 PM – 5:00 PM

Project Feasibility Studies Page 8 of 18

 Batangas City Rural Improvement Club

Day 4

Inspection
60 mins Yes
8:00-9:00
Spoilage
Reject?

No

Packing
60 mins
9:00AM-10:00AM

Inspection
60 mins
10:00-11:00

Reject?

Storing
60 mins
11:00-12:00

Project Feasibility Studies Page 9 of 18

 Batangas City Rural Improvement Club

Day 5

Inspection
60 mins Yes
8:00-9:00
Spoilage
Reject?

No

Packing
60 mins
9:00AM-10:00AM

Inspection
60 mins
10:00-11:00

Reject?

Storing
60 mins
11:00-12:00

Project Feasibility Studies Page 10 of 18

 Batangas City Rural Improvement Club

Day 6

Inspection
60 mins Yes
8:00-9:00
Spoilage
Reject?

No

Packing
60 mins
9:00AM-10:00AM

Inspection
60 mins
10:00-11:00

Reject?

Storing
60 mins
11:00-12:00

Project Feasibility Studies Page 11 of 18

 Batangas City Rural Improvement Club

Assumptions
1. The production is in weekly basis. Day 1-day 3 is for production of dried mango while Day 4-7
from is for the rentals of Heavy Duty Drier.
2. The volume of production per week is 1,000 packs of 100g.
3. Vacuum Sealer is available for rent from Day 1 to 7. However for day 4-6, the equipment is not
available at 9:00-10:00 AM.

Direct Materials

Particulars Amount Price per unit Total Amount

ripe mango 6,480 Kg PHP 80.00 PHP 518,400.00
Refined sugar 1,166 Kg PHP 55.00 PHP 64,152.00
water (purified) 2,592 L PHP 30.00 PHP 77,760.00
sodium metabisulfite 6 Kg PHP 948.50 PHP 6,146.28
Total Amount PHP 666,458.28

Indirect Material

Particulars Amount Price per unit Total Amount

Cheesecloth 270 pices PHP1.00 PHP 270.00

Nylon PE plastic vacuum bag size 5x8
inches price 540 boxes PHP2.50 PHP 1,350.00
Box 540 pieces PHP2.50 PHP 1,350.00
Label 54,000 Pieces PHP0.50 PHP27, 00
Total Amount PHP 29,970.00

Factory Tools and Equipment

Particulars Amount Price per unit Total Amount

Stainless steel peeler 4 unit PHP 50.00 PHP 200.00
Stainless steel knife 4 unit PHP 50.00 PHP 200.00
Chopping board 2 unit PHP 250.00 PHP 500.00
Thermometer 2 unit PHP 350.00 PHP 700.00
Colander or strainer 2 unit PHP 205.00 PHP 410.00
Heavy Duty Cabinet Dryer 1 unit PHP 75,000.00 PHP 75,000.00
Heavy Duty Vacuum Sealer 1 unit PHP 28,000.00 PHP 28,000.00
weighing scale (digital 7kg LCD) 2 sets (LCD 7 Kg) 800 PHP 1,600.00
Gas Stove 1 Unit 749 749
LPG tank 1 Unit 1000 1000
Working Tables 1 Unit 9800 9800
Total Amount PHP 118, 159.00

Expenses for the Whole

Utilities

Price per
Particulars Amount Total Amount
month
Electricity 12 12000 144000
LPG 24 598 14352
Water 12 360 4320
Telphone 12 999 11988
Total amount 174660

Project Feasibility Studies Page 12 of 18

 Batangas City Rural Improvement Club

Maintenance

Particulars Amount Price per Unit Total Amount

Broom 3 20 60
Dustpan 3 40 120
Trashcan 3 120 360
Cleaing Soap 24 18.53 444.72
Mop 2 100 200
Sponge 24 10 240
Rag 36 1 36
Pail 2 60 120
Dipper 4 20 80
Fire Extinguisher 1 2400 2400
Disgwashing liquid 12 74 888
Total Amount 4948.72

Marketing Aspect

The products to be offered by the Batangas City Rural Improvement Club (BCRIC) are the pickled
papaya and dried mango. At the same time, the federation will also be offering rental service for the
Shared Service Facilities awarded to them. The pickled papaya is bottled in 120 g while dried mango will
be bought in a vacuum sealed weighing 100 g.

The prices of the product are as follows:

Selling Price (Pickled Papaya)

Direct Materials 208,944.83
Direct Labor 187,200.00
Factory Overhead 970689.11
Total Cost 1,366,833.94
Total Production 43200
Unit Cost 31.64
Mark-up 18.36
Selling Price to Retailer 50.00

Selling Price (Dried Mango)

Direct Materials 641,774.64
Direct Labor 187,200.00
Factory Overhead 522,183.36
Total Cost 1,351,158.00
Total Production 52000
Unit Cost 25.98
Mark-up 24.02
Selling Price to Retailer 50.00

The product will be distributed using indirect channel all throughout the Region IV-A
CALABARZON. To be particular, the product is best to be sold at the pasalubong and souvenir outlet of
each cities and municipalities.

In order to have demand for the product, the BCRIC will promote their product with the use of
free taste and joining trade fair. The BCRIC will allocate PhP2,000 every month for the free taste and
trade fairs.

Project Feasibility Studies Page 13 of 18

 Batangas City Rural Improvement Club

Management Aspect

Since Batangas City Rural Improvement Club is an established organization and manage by
competent heads, the only thing that will be included in the organizational chart is the two workers who
will manage the project and 1 utility personnel.

Batangas City Rural Improvement Club

Management

Worker 1 Worker 2

Utility Worker

The workers will be compensated in a daily basis. They will be paid PhP300 per day. They have
one day off within a week. There are no benefits included since the structure is a project based.
Meanwhile, utility will be paid PhP1, 000 every month and no benefits to be given the same with two
workers.

Financial Aspect

For the two projects, two income statements has been prepared to better understand the flow
of transactions. In order to make the financial statement valid, the following assumptions should be
considered:

For Pickled Vegetable

1. The number of days for annual production is 288

2. The selling price is PhP50.00
3. The BCRIC will produce 150 bottles a day hence they will produce 43,200 bottles.
4. The ending inventory is equal to 10 percent of the production capacity.
5. The salaries and compensation is PhP300 a day, 6 days a week.
6. The maintenance worker will be paid PhP1,000 a month.
7. Promotional Expense is PhP2,000 per month for both Trade Fair and Free Taste.
8. The transportation Expense for weekly distribution of product within CALABARZON is
PhP10, 000 per month.
9. There will be a freight in amounting PhP2, 000 per week.
10. The SSF will be fully rented for the year and be charge PhP100 per hour.

For Dried Fruits

1. The production is on weekly basis producing 1,000 packs a week.

2. The selling price is PhP50.00
3. The drier will be rented only during its free time (Day 4-7)
4. The ending inventory is equal to 10 percent of the production capacity.

Project Feasibility Studies Page 14 of 18

 Batangas City Rural Improvement Club

5. The salaries and compensation is PhP300 a day, 6 days a week.

6. The maintenance worker will be paid PhP1,000 a month.
7. Promotional Expense is PhP2,000 per month for both Trade Fair and Free Taste.
8. The transportation Expense for weekly distribution of product within CALABARZON is
PhP10, 000 per month.
9. There will be a freight in amounting PhP2, 000 per week.
10. The SSF will be fully rented for the year and be charge PhP100 per hour.

Batangas CityRural Improvement Club (Pickled Vegetable)

Income Statement
as of Year 1 to Year 3
Year 1 Year 2 Year 3
Revenue from Operations
Rental Income 230,400.00 253,440.00 278,784.00
Sales from Pickled Vegetable 1,944,000.00 2,138,400.00 2,352,240.00
Total Revenue 2,174,400.00 2,391,840.00 2,631,024.00

Less: Cost of
Sales
Beginning Inventory - 124,280.00 146,775.20
Purchases
Direct Materials 208,944.83 229,839.31 252,823.24
Indirect Materials 603,864.00 664,250.40 730,675.44
Freight In 104,000.00 114,400.00 125,840.00
Less: ending Inventory -136,684.80 - 148,262.40 - 160,997.76
Cost of Sales 780,124.03 860,227.31 948,340.92
Gross Profit from Sales 1,394,275.97 1,531,612.69 1,682,683.08
Less: Operating Expenses
Salaries 187,200.00 205920.00 226512.00
Maintenance Worker 12,000.00 13,200.00 14,520.00
Maintenance Supplies 2,474.36 2,721.80 2,993.98
Utility Expenses 87,330.00 96,063.00 105,669.30
Tools and Equipment 8,260.75 9,086.83 9,995.51
Promotional Expenses 24,000.00 26,400.00 29,040.00
Transportation Expenses 120,000.00 132,000.00 145,200.00
Depreciation- (Hevay Duty Sterilizer) 8,760.00 8,760.00 8,760.00
Total Operating Espense 450,025.11 494,151.62 542,690.78

Net Income 944,250.86 1,037,461.07 1,139,992.29

Project Feasibility Studies Page 15 of 18

 Batangas City Rural Improvement Club

Notes 1
Selling Price (Pickled Vegetable)
Year 1 Year 2 Year 3
Direct Materials 208,944.83 229839.313 252823.2443
Indirect Materials 603,864.00 664250.4 730675.44
Utilities Expense 87,330.00 96063 105669.3
Maintenance Expense 2,474.36 2721.796 2993.9756
Factory Tools and Equipment 8,260.75 9086.825 9995.5075
Depreciation Expense 8,760.00 8,760.00 8,760.00
Salaries 187,200.00 205,920.00 226,512.00
Maintenance Workers 12,000.00 13,200.00 14,520.00
Promotional Expense 24,000.00 26,400.00 29,040.00
Trasportation 120,000.00 132,000.00 145,200.00
Freight In 104,000.00 114,400.00 125,840.00
Total Cost 1,366,833.94 1,502,641.33 1,652,029.47
Total Productions 43,200.00 47,520.00 52272
Unit Cost 31.64 31.62 31.60
Mark-up 18.36 18.38 18.40
Selling Price to Retailers 50.00 50.00 50.00

Notes 2
Computation of Depreciation Cost
Heavy Duty Sterilizer 34,000.00
Working Table 9,800.00
Total Amount 43,800.00
Salvage Value 0
Estimated Useful Life 5
Depreciation Cost 8,760.00

Project Feasibility Studies Page 16 of 18

 Batangas City Rural Improvement Club

Batangas CityRural Improvement Club (Dried Fruits)

Income Statement
as of Year 1 to Year 3
Year 1 Year 2 Year 3
Revenue from Operations
Rental Income 395,200.00 434,720.00 478,192.00
Sales from Dried Fruits 2,340,000.00 2,574,000.00 2,831,400.00
Total Revenue 2,735,200.00 3,008,720.00 3,309,592.00

Less: Cost of
Sales
Beginning Inventory - 124,280.00 146,775.20
Purchases
Direct Materials 641,774.64 705,952.10 776,547.31
Indirect Materials 136,620.00 150,282.00 165,310.20
Freight In 104,000.00 114,400.00 125,840.00
Less: ending Inventory -124,280.00 - 146,775.20 - 159,313.44
Cost of Sales 758,114.64 823,858.90 908,384.07
Gross Profit from Sales 1,977,085.36 2,184,861.10 2,401,207.93
Less: Operating Expenses
Salaries 187,200.00 205920.00 226512.00
Maintenance Worker 12,000.00 13,200.00 14,520.00
Maintenance Supplies 2,474.36 2,721.80 2,993.98
Utility Expenses 87,330.00 96,063.00 105,669.30
Tools and Equipment 15,159.00 16,674.90 18,342.39
Promotional Expenses 24,000.00 26,400.00 29,040.00
Transportation Expense 120,000.00 132,000.00 145,200.00
Depreciation- (Drier and Vacuum Seal) 20,600.00 20,600.00 20,600.00
Total Operating Expense 468,763.36 513,579.70 562,877.67

Net Income 1,508,322.00 1,671,281.40 1,838,330.26

Project Feasibility Studies Page 17 of 18

 Batangas City Rural Improvement Club

Notes 3
Selling Price (Dried Fruits)
Year 1 Year 2 Year 3
Direct Materials 641,774.64 705952.104 776547.3144
Indirect Materials 136,620.00 150,282.00 165,310.20
Utilities Expense 87,330.00 96,063.00 105,669.30
Maintenance Expense 2,474.36 2,721.80 2,993.98
Factory Tools and Equipment 15,159.00 16,674.90 18,342.39
Depreciation Expense 20,600.00 20,600.00 20,600.00
Salaries 187,200.00 205,920.00 226,512.00
Maintenance Workers 12,000.00 13,200.00 14,520.00
Promotional Expense 24,000.00 26,400.00 29,040.00
Transportation 120,000.00 132000 145200
Freight In 104,000.00 114400 125840
Total Cost 1,351,158.00 1,484,213.80 1,630,575.18
Total Productions 52,000.00 57,200.00 62,920.00
Unit Cost 25.98 25.95 25.92
Mark-up (92.45%) 24.02 24.05 24.08
Selling Price to Retailers 50.00 50.00 50.00

Notes 4
Computation of Depreciation Cost
Heavy Duty Dehydrater 75,000.00
Heavy Duty Vacuum Sealer 28,000.00
Total Amount 103,000.00
Salvage Value 0
Estimated Useful Life 5
Depreciation Cost 20,600.00

Project Feasibility Studies Page 18 of 18