As part of the Economic Feasibility Summary Worksheet design, you must discount the recurring benefits and costs to their present values. Although several ways exist to determine the present value of the benefits, you decide to multiply the recurring benefit (or cost) by a present value factor. Since each year requires a different present value factor, the worksheet must compute the present value factor for each year. You decide to use the formula provided below to determine each year's present value factor. (In following formula, "i" refers to the discount rate, and "n" refers to the year. The worksheet shown in Figure 1 assumes that the project's useful life in five years.) To determine the present value of a benefit or cost for a particular year, you multply the recurring value of the benefit or cost for that year by the present value factor for that year. The net present value of all benefits (or costs) is a summation of the benefits (or costs) up to and including the current year. The overall net present value is the difference between the net present value of all benefits and the net present value of all costs. The cash flow section provides a summary of the cash flows on a yearly basis, as well as a summation of the overall cash flows.