The Crucible By Arthur Miller - 1052 Words

Buddy Al-Aydi Ms.Healy English 9 CP 14th October 2014 The Crucible Essay The Crucible was a novel written by Arthur Miller in the 1950’s. It was written in a format of the play, portraying an allegory of the Salem Witch-Hunts led by Senator Joseph McCarthy. The book is known to have a inexplicable plot. This plot is advanced by multiple characters in the book in order to ensure that the reader maintains interest with the material that is being read. The farmer, John Proctor, would be the individual capable of evolving the plot in this masterpiece of writing. John Proctor has a gift of sticking close to the theme like tape for each Act. For example, in Act I, denial is a major theme utilized in order to reveal what a character may conceal, or will not undetake. â€Å"Proctor: Abby, I may think of you softly from time to time. But I will cut off my hand before I’ll ever reach for you again. Wipe it out of mind. We never touched, Abby†(Miller 21-22). In this quote, Proctor is denying the fact that he and Abigail were ever togeth er, although Abigail constantly insists that they both were Romeo and Juliet. Another example would be in Act II. The major theme in this case is personal guilt. Proctor: Spare me! You forget nothing and you forgive nothing’. Learn charity, woman. I have gone tiptoe in this house all seven month since she is gone. I have not moved from there to there without I think to please you, and still an everlasting funeral marches round your heart.Show MoreRelatedThe Crucible By Arthur Miller1269 Words   |  6 PagesAt first glance, the playwright Arthur Miller in The Crucible highlights the historical significance of the Salem Witch Trials of 1692, but in fact it is an allegorical expression of his perception of McCarthyism. If the reader has some background information on Arthur Miller’s victimization as a communist, it is evident that the play is a didactic vessel illustrating the flaws of the court system in the 1950’s. The communist allegations were launched at government employees, entertainers and writersRead MoreThe Crucible By Arthur Miller1681 Words   |  7 Pagesof their way to the last dying breath to make sure they leave with a good or bad reputation. In one of the recent literature study in class â€Å"The Crucible† by Arthur Miller, Miller uses characterization to illustrate reputation throughout the play. â€Å"The Crucible† takes place in Salem, Massachusetts. It is based upon the Salem witch trails. In â€Å"The Crucible†, we journey through the life of three characters who reputations plays a major role in the play. The three characters are John Proctor, AbigailRead MoreThe Crucible By Arthur Miller1333 Words   |  6 PagesAs the various characters in The Crucible by Arthur Miller interact, the dominant theme of the consequences of women’s nonconformity begins to slide out from behind the curtains of the play. Such a theme reveals the gripping fear that inundated the Puritans during the seve nteenth century. This fear led to the famous witch-hunts that primarily terrorized women who deviated from the Puritan vision of absolute obedience and orthodoxy. Arthur Miller presents his interpretation of the suffering by subtlyRead MoreThe Crucible By Arthur Miller998 Words   |  4 Pagesmotivated by jealousy and spite. The Crucible is a four-act dramatic play production that was first performed on January 22, 1953. Arthur Miller used dialogue within the characters to cover the multiple themes; conflicts and resolutions, plus the few directions for the different actions of the play. The Salem Witch Trials were intended to be performed as the play however, when read, it can be more carefully examined and broken down to analyze the techniques. Miller, the playwright, uses literaryRead MoreThe Crucible By Arthur Miller1145 Words   |  5 PagesUnbalance Through The Centuries In Arthur Miller’s play, The Crucible, the author reflects the persecution of communists in America in the 1950’s through a recount of the Salem witch trials. It is often presumed that Miller based his drama directly off of events that were particularly prevalent in the years surrounding the publication of The Crucible- which was released in the year 1953, towards the conclusion of the Korean War. Although there was not a literal witch hunt occurring during this timeRead MoreThe Crucible By Arthur Miller1063 Words   |  5 PagesIn the English dictionary, there are three definitions of the word crucible. One is a metal container in which metals are mixed and melted. Another is a severe test. But the third definition, and the one that I think fits the best for this book, is a place or situation in which different elements interact to create something new. In my mind, this fits because all of the characters had their little grudges and dirty secrets. But when all th ose seemingly little things interact, they formed somethingRead MoreThe Crucible By Arthur Miller1285 Words   |  6 Pages Rationale, Morality, Stereotypes, Pressure, Self-Censorship, Unanimity, and Mindguards. Groupthink has also taken place in our history a a country. The play, The Crucible by Arthur Miller is about a the real-life Salem Witch Trials that happened in 1692 - 1693, in Salem, Massachusetts. Some symptoms of Groupthink found in the Crucible are Rationale, Pressure, and Self-Censorship. The Groupthink symptom, Rationale, is described as when victims of Groupthink ignore warnings: they also collectivelyRead MoreThe Crucible By Arthur Miller811 Words   |  4 Pages While The Crucible, by Arthur Miller, is only a four act play, it still resembles the format of a five act play. The five-act structure evolved from a three-act structure, which was made famous by Roman Aelius Donatus. Donatus came up with three types of plays: Protasis, Epitasis, and Catastrophe. The five-act structure helped to expand the three act structure, mainly made famous by Shakespeare through his many tragedies. Even though The Crucible contains only four acts, it still has the commonRead MoreThe Crucible By Arthur Miller841 Words   |  4 PagesThe Crucible is a chaotic play, throughout this American classic Arthur Miller takes the reader through multiple events of terror and insanity. While creating a great on-stage play, Arthur Miller portrays his life through the events, the characters, a nd plot of The Crucible. Using vivid imagery and comprehensible symbolism, Miller manipulates the real personalities of the characters and events in 1600 Salem, Massachusetts to create a symbolic autobiography. Throughout this play, the reader experiencesRead MoreThe Crucible by Arthur Miller1085 Words   |  5 Pagesopposes the will of the majority is a recurring feature of drama.† Identify such a conflict in a non-Shakespearean play you have studied and show how the dramatist deals with the implications for both the character and the society. Arthur Miller in ‘The Crucible,’ deals with the internal/external conflicts of protagonist John Proctor, during the witch trials of Salem; showing the effects of â€Å"an individual opposed to the will of the majority.† Through the mass hysteria caused by Abigail, corruption

The Influence Of Income On Health - 852 Words

Did you know that the income of a person has little effect on his or her health? As Marmot explains in his scholarly article, â€Å"The Influence of Income on Health: Views of An Epidemiologist,† health is not greatly affected by the income of an individual, but rather the kind of community and the environment he or she lives in. He explains and provides statistics on many distinct perspectives on how people may think that income influences health, including ignorance versus poor conditions, poverty and health relationship, and poverty and inequality. Marmot believes that there are two sides to the argument on how Income influences health. Many may argue that no matter what your income is, if you have clean water to drink and a clean place to live in and proper nutrition, then once the water is clean, having a high or low income won’t make any differences. On the other hand, he explains how poverty influences health and provides the readers with facts and statistic to s upport his claims. Moreover, Glazer, in her article â€Å"Wealth and Inequality† examines a difference point of view on the same topic that Marmo dealt with. Glazer states the liberals and conservatives view points on inequality. She explains how the conservatives believe that we should not tax the rich people more because they are the ones who create jobs for the middle class, whereas the liberals believe that the new era that is emerging is the new Gilded Age. Marmot’s scholarly article is examining the ideas thatShow MoreRelatedDeterminants Of Health And Health Of Canada Essay1394 Words   |  6 PagesDeterminants of health are specific categories in a person s life which impact their mental and physical health. Brought into light by a report produced for the Government of Canada by the minister of national health and welfare Marc Lalonde in 1974 titled A new perspective on the health of Canadians Ottawa. The report sought to move healthcare in Canada from a pure ly physiological process into one which included preventative measures from environment and lifestyle. This behavioural approach wasRead MoreEffects Of Obesity And The Media1396 Words   |  6 Pagesobtain a lower-income cannot afford to be included in physical activity. Depending on the environment, some neighbourhoods do not have many parks or community centre that are available, and this can lead to â€Å"many teens with activity limitations may be unable to engage in a healthy, active life-style, increasing the chances of being overweight relative to their peers† (Burton, P., Phipps, S., 2010 pg. 4). Also, eating a healthy balanced meal can also be difficult for lower-income families seeingRead MoreSocial Determinants Of Health And Health1170 Words   |  5 Pagesdeterminants of health are social, economic and physical factors that affect the health of individuals in any given population. There are fourteen social determinants of health but Income is perhaps the most i mportant of these because it shapes living conditions, influences health related behaviors, and determines food security. In Canada, people with lower incomes are more susceptible to disease/ conditions, higher mortality rate, decreased life expectancy and poorer perceived health than people withRead MoreThe Impact Of Health On A Persons Income1169 Words   |  5 PagesThe impact of health on wage is widely examined by scholars. Most scholars conclude that poor health has negative impact on a person’s income, even though they use different method to test the relationship. Some scholars use the variable which represents health as exogenous variable, but some use it as endogenous variable. In this project, I use self-reported health as an explanatory variable and exploit what is the impact of self-reported health on a person’s income by using multiple regressionRead MorePublic Policy Of Globalization On Canada Essay1692 Words   |  7 Pagesworking conditions which shape health. The social determinants of heath shape material, psychosocial, and behavioral routes. However, stages of life like, genetics, early life, and cultural factors are some components that influence health. The Canadian welfare state shape public policies enhance the social determinants in Canada and the low quality and the inequitably distributed throughout the nation. There are several different factors that revolve around inequality health policy disputes that needsRead MoreObesity And Its Effects On Obesity1612 Words   |  7 Pageshave had relationships with childhood obesity. The study looked at how schools are separated by certain demographics that include race and average household income (Miyazaki Stack, 2015). The study went on to state that the higher the socioeconomic (SES) status; which was then defined as parent education level, occupation, and household income, related to a lower BMI (Miyazaki Stack, 2015). This would then insinuate that uncontrollable factors such as SES in relation to BMI described in this studyRead MoreHousehold Income By Federal Poverty Level Essay921 Words   |  4 PagesStatistics in Health Science IV: Household income by federal poverty level DV: Being overweight or obese Faculty: Dr. Shana Alex Charles Fall Semester 2015 December 17, 2015 2) Interpretation of your results. a) With reference to my midterm research study, I will be using the updated 2011/12 California Health Interview Survey (CHIS) for adolescents (ages 12-17). My research question is how is being overweight or obese associated with the household income by federalRead MoreThe Consequences And Risk Factors Of Child Abuse And Neglect930 Words   |  4 Pageschild maltreatment children from low-income families and poor family structures such as living in a one-parent household are more prone to abuse. Abused children experience many mental health problems such as severe depression and anxiety. However, do these mental health issues express themselves to the same degree in different ethnicities? Literature Review Berger (2004) was interested in looking to see if family incomes as well as family structure had any influence on child neglect. The data was gatheredRead MoreEssay about Hcs 235 Health Care Utilization Option 11347 Words   |  6 PagesHealth Care Utilization Option 1 University of Phoenix Health Care Delivery in the United States HCS 235 January 13, 2013 Health Care Utilization Option 1 Introduction Health care reform in the United States is a hot topic and the source of legislation meant to make health care obtainable to Americans. Recent presidential elections have been platforms used to promote health care reform yet no one can agree on what the resolution will be. This paper will discuss ways recent health careRead MoreRelationship Between Health And Income1243 Words   |  5 Pagesall have positive effects on ln(income). The variable Black is also statistically significant at 5% significance level, but the effect of this variable is negative. In terms of my interest, even though self-reported health has positive relationship with ln(income) and people who have good self-reported heath tend to earn 17.06% higher, the coefficient is statistically insignificant. Hence the null hypothesis which states that the relationship between health and income is not significant cannot be rejected

A Review of Emma Essay Example For Students

A Review of Emma Essay A Review of EmmaIve read Sense and Sensibility, Pride and Prejudice, and most recently Emma. All of them are wonderful, and I can never decide which one is my favorite book by Jane Austen. But definitely Emma is, to me, a very engaging one. I have no special feeling about this book at first glance. Because of Jane Austen, I choose it and take some patience to read. And finally, the patience is greatly rewarded. Emma is a timeless story which is both funny and compelling. The characters are all really well developed, especially Emma, a 21-year-old girl, who is portrayed as incredibly human. The story is, briefly, about Emma, who is young, beautiful, rich and witty and lives with her father Mr. Woodhouse. She has vowed herself never to marry, but loves to play a matchmaker. She has just matched her tutor, Miss Taylor, up with Mr. Weston. She is quite proud of her success and finds satisfaction in it. In her arrogance, she believes that she knows what is right for everyone, and determined to appoint herself Cupid for all of her friends. Mr. Knightley, a neighbor and the brother of her older sisters husband, warns her not to meddle in the others affairs, but she doesnt take it seriously. She takes care of a young girl of unknown parentage named Harriet. Harriet is in love with a farmer named Robert Martin, but Emma thinks that he is beneath her, so she encourages Harriet to set her sights on Mr. Elton, a local vicar, as a future husband. Poor Harriet is completely bowled over by Emma. But unfortunately, everything goes to the opposite side, and finally Emma knows the fact that Harriet and Mr. Elton are completely unsuited, and that Harriet and her farmer are made for each other. Through a lot of hilarious scenes, Emma comes to realize that she doesnt know as much as she thinks, and learns that its better to let other people manage their own lives. As the other works of Jane Austen, Emma describes the ordinary person and trivial matters. The plot develops around the activities of choosing spouse for the heroines. It reveals the bad habit that people regarded marriage as the economic insurance to woman at that time. In order to raise the economic position, they emphasized the family status but ignored womens feelings and rights. The main female characters in Emma all seek the equal communication with man, they demand the equal rights in the social position, and insist on the freedom of observing and choosing spouses. It is nearly tantamount to a shout of resistance. Emma and Mr. Knightley are the two leading characters in this novel. They always help the others on many occasions, but they have different ways to do that. Emma firmly believes that there is nothing more beautiful than a match well made. But just because Emma loves matchmaking, it doesnt mean her attempts are always well made. The way that Emma chooses spouse for th e girl is very funny, even a little fantastic. She tries her best to find man with high social status for the girl of low birth. But its often that herself is kept in the dark, the result and her expectation are on the contrary, and a lot of stupid jokes are made. For example, Emma thinks that Harriet would be a perfect match for Mr. Elton, so she encourages Harriet to set her sights on him, but everything is ruined because Mr. Elton turns out to be in love with Emma instead. Perhaps we could say that the author wants to lead the readers to laugh at the bad habit in the old British society. .u17daea2bcd6405dd78f8cf4e0f69fbeb , .u17daea2bcd6405dd78f8cf4e0f69fbeb .postImageUrl , .u17daea2bcd6405dd78f8cf4e0f69fbeb .centered-text-area { min-height: 80px; position: relative; } .u17daea2bcd6405dd78f8cf4e0f69fbeb , .u17daea2bcd6405dd78f8cf4e0f69fbeb:hover , .u17daea2bcd6405dd78f8cf4e0f69fbeb:visited , .u17daea2bcd6405dd78f8cf4e0f69fbeb:active { border:0!important; } .u17daea2bcd6405dd78f8cf4e0f69fbeb .clearfix:after { content: ""; display: table; clear: both; } .u17daea2bcd6405dd78f8cf4e0f69fbeb { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u17daea2bcd6405dd78f8cf4e0f69fbeb:active , .u17daea2bcd6405dd78f8cf4e0f69fbeb:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u17daea2bcd6405dd78f8cf4e0f69fbeb .centered-text-area { width: 100%; position: relative ; } .u17daea2bcd6405dd78f8cf4e0f69fbeb .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u17daea2bcd6405dd78f8cf4e0f69fbeb .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u17daea2bcd6405dd78f8cf4e0f69fbeb .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u17daea2bcd6405dd78f8cf4e0f69fbeb:hover .ctaButton { background-color: #34495E!important; } .u17daea2bcd6405dd78f8cf4e0f69fbeb .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u17daea2bcd6405dd78f8cf4e0f69fbeb .u17daea2bcd6405dd78f8cf4e0f69fbeb-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u17daea2bcd6405dd78f8cf4e0f69fbeb:after { content: ""; display: block; clear: both; } READ: Survivors Tale And Spiegelman EssayMr. Knightley helps the others in another way that is different from Emmas. For example, once in a dancing party, when he saw Harriet receive the scornful cold reception, he stepped forward bravely, defended her self-esteem and helped her out of the extremely awkward situation. He hated and cracked down the conduct that fawned on those above and bullied those below. Although he was deeply in love with Emma, he was against that she helped Harriet claim ties of kinship with someone of a higher social position. He supported the pure and faithful love between Harriet and Robert Marin, and gave them proper help so that they had an opportunity to get married according to their own will. The author puts his role of Mr. Knightley in the respectable position, undoubtedly hoping to reflect his own certain social ideal through this character. The highlight for me is the arguments between Emma and Mr. Knightley which are superbly crafted. Mr. Knightley is definitely my favorite character, and is a perfect gentleman. Another two characters, Frank Churchill and Jane Fairfax, escape from reality and arrange marriage privately, finally they become the butt of everyones jokes. In fact, they hide the painful topic in heart and yield to public opinion pressure. The readers always feel depressed about them. However, the other two pairs of lovers who face the reality of society and pursue the true and the good are praised by people. We can find out that the author appeals to the society to admit the equality of men and women. Austens talents of satiring shines in various characters, particularly in Mrs. Elton, who represents societys perpetual desire to be upper class. The character of Emma herself is also rather good because she is flawed unlike Austen s other heroines who seem a bit too perfect. I could not admire her as much as the other heroines, but clever at the same time, and she always has the best intentions at heart, especially for her loved one like Mr. Woodhouse. Of course, the other minor characters are also wonderful, the paranoid Mr. Woodhouse, the talkative Miss Bates, and the innocent Harriet are also memorable characters. The book is beautifully written although quite slow going with a lot of long winded polite dialogue. And the language is excellent, the surroundings fit the characters very well. Jane Austens admirable style and incomparable charm get away with the happy ending without seeming like a sappy soap opera. The style of the book is not artificial at all. While narrating the incidents, it just right catches the readers heart properly. The author with her womens sensitive sagacity and self-confident ethical consciousness, extols the true, good and beautiful things, and castigates the evil and false things. This has undoubtedly lashed people who are similar to the characters in the book. Emma creates a magical effect, and its glamour is overwhelming. The reason has two aspects. Firstly, Emma succeeds in creating an atmosphere of satisfying the readers intellectual narcissism. The scenes are vivid portrayed that the reader feels as if he is participating. Readers seem to place themselves in the midst of the characters position, they cant help being attracted by the role, and participating in it. As the plot unfolds, the reader keeps a close contact with the heroine by mind. When it comes to a comical or ridiculous change of plot, an echo of laughter is provoked. If the change of plot is an embarrassing one, the reader will also feel rather embarrassed. Secondly, the plot of Emma is also a riddle. Once the reader begins his journey in the book, he will attempt to penetrate the riddle under the authors guide. In this sense, Emma also resembles a mysterious detective novel. Jane Austen purposely conceals all the important clues from the readers view in a deliberate way, until its the right time to reveal all of the truth. In Emmas perspective, the reader tries hard to observe the other characters emotions and personalities, in order to hope to find the truth via all kinds of clues. Although the reader cant hope to foresee exactly what is going to happen in the end, a dim realization of what the final result might be is accompanying the course of reading from the beginning to the end. The reader feels that he knows the thread of the plots. It seems that the author is telling the reader: we all know how ridiculous Emmas concept is. This sentiment greatly strengthens the comical effects while reading. Emma is the fifth novel of Jane Aust en. At the time of writing this novel, Austen had been an excellent writer. Through the readers careful arrangement for every plot in the novel, the apparent cause and the concealed essence are all naturally reasonable. According to apparent phenomena, Emma makes reasonable assumption and judgment. Sometimes sensitive readers are confused, but their thoughts will then naturally develop with Emmas observation until the final result is revealed but is found the opposite to apparent phenomena. In this way, comical effects are achieved out of expectation. .ufd1605e7d0126d7473dd8ad11769b96b , .ufd1605e7d0126d7473dd8ad11769b96b .postImageUrl , .ufd1605e7d0126d7473dd8ad11769b96b .centered-text-area { min-height: 80px; position: relative; } .ufd1605e7d0126d7473dd8ad11769b96b , .ufd1605e7d0126d7473dd8ad11769b96b:hover , .ufd1605e7d0126d7473dd8ad11769b96b:visited , .ufd1605e7d0126d7473dd8ad11769b96b:active { border:0!important; } .ufd1605e7d0126d7473dd8ad11769b96b .clearfix:after { content: ""; display: table; clear: both; } .ufd1605e7d0126d7473dd8ad11769b96b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ufd1605e7d0126d7473dd8ad11769b96b:active , .ufd1605e7d0126d7473dd8ad11769b96b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ufd1605e7d0126d7473dd8ad11769b96b .centered-text-area { width: 100%; position: relative ; } .ufd1605e7d0126d7473dd8ad11769b96b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ufd1605e7d0126d7473dd8ad11769b96b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ufd1605e7d0126d7473dd8ad11769b96b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ufd1605e7d0126d7473dd8ad11769b96b:hover .ctaButton { background-color: #34495E!important; } .ufd1605e7d0126d7473dd8ad11769b96b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ufd1605e7d0126d7473dd8ad11769b96b .ufd1605e7d0126d7473dd8ad11769b96b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ufd1605e7d0126d7473dd8ad11769b96b:after { content: ""; display: block; clear: both; } READ: Sedimentary Rocks 5-3Theres no breath-taking moment in the novel and no sensational descriptions. But in its progressive and vivid narration, in its mysterious plots, in its subtle portrayal of characters personalities and minds, it seems as if a roll of beautiful and somewhat exaggerated painting is shown before the readers. In this painting you can see clearly what the characters images and behaviors are, hear their remarks set in different scenes, and feel their joys and pains. After you are through with the story, you might have returned from the journey to the circle of British middle class of that time. This book is really worth reading. That Jane Austen is the queen of family drama and fantastical prose requires no deliberation. Her inimitable style of writing has won her countless fans. More so, her unparallel supremacy in character development and sentence composition has inspired numerous writers worldwide. Emma certainly makes no exceptions.

Prudent Solutions free essay sample

The Data Acquisition System (DAS) is initially estimated to cost $41. 25 million if purchased outright. This purchase can be done using currently invested short-term marketable securities. Leasing is also an option with payments estimated at $12. 75 million per year. After analyzing each scenario using the discounted cash flow method, the best option is to lease the equipment rather than purchase it. The net present value (NPV) for leasing the DAS is a negative ($28. 10 million) and the NPV for the purchasing the DAS is a negative ($28. 64 million). Our net advantage for leasing is $0.543 million. Summary of Facts: We have developed a new process that makes spent nuclear rods inert rendering them harmless. RD is complete and we are now moving to commercial production of the process in house. As part of the production equipment a sophisticated Data Acquisition System (DAS) is needed to monitor the entire fuel conversion process to ensure the fuel is safe upon completion. We will write a custom essay sample on Prudent Solutions or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The IRR for this project is estimated to be 24% and the project is judged to have low risk. Risk is based on after tax cost of capital of 11% for low risk, 13% for average risk, and 15% for high risk. The data acquisition system will only be utilized for 4 years regardless of whether it is purchased or leased. Statement of problems: Each of us in the decision making process have different views on how to acquire the DAS. Therefore, we need to address each of these problems and determine the best approach for acquiring the new data system. First, what discount rate should we use when evaluating the lease-versus-purchase decision? Should we use the firm’s WACC of 13 percent, or the firm’s rate on secured debt that reflects the lowest risk? Second, we need to determine if it will be better to lease or purchase the new system? Analysis: Discount Rate We have determined that the cash flows generated in the lease-versus-purchase situation are more certain than are the cash flows generated by the firm’s average projects. Consequently, these cash flows should be discounted at a lower rate in order to reflect their lower risk. At the present time, the firm’s cost of secured debt carries the lowest risk rate of Prudent. Therefore, 10% should be used as the discount rate in the lease versus purchase decision. Prudent’s Analysis: Purchase option: We have capital available now to purchase the DAS if we sell off tradable securities ($41. 25 million worth). However, this removes a possible revenue stream as the funds could be lent out instead. With the purchase, we get a maintenance contract that costs $2. 25 million per year. We expect to use the system for only 4 years (see Table 1). The system has an estimated 8 year life expectancy, after the 4 years, we expect to sell the system for a positive salvage value of $7. 0125 million or greater. If we choose to purchase the system It will cost $41. 25 Million to purchase. The system will come with a maintenance contract that will cost Prudent $2. 25 million per year, payable at the first of each year. Tax wise, the system falls into MACRS 5 year tax area, with allowances of 0. 2, 0. 32, 0. 19, 0. 12, 0. 11, and 0. 06 in years 1 through 6 respectively. Prudent has sufficient capital to purchase the system. We have temporary investments in marketable securities that can pay for the equipment outright. This is the option already chosen if purchase is to take place. The equipment has a useful life expectancy of 8 years. Salvage value is expected to be book value or greater. If we had chosen to pay with a loan the terms would be as follows, 4 year secured loan for $41. 25 million and an interest estimate of 10%. Lease option: Leasing costs can be spread out over the life of the lease at $12. 75 million per year. The maintenance contract on the equipment is included. With leasing, we get a payment tax savings of $5. 10 million per year given our 40% tax rate. After the 4 years, removal of the equipment is the Lessor’s job. We will have no residual value because the leased equipment will go back to the Lessor. If we choose to lease the system Commercial Capital Corporation is the leasing subsidiary of a major regional bank and offers a lease at 12. 75 million per year for 4 years. The first payment is due upon delivery and installation. The rest of the payments are due each subsequent year at the beginning of the year. This cost includes the same service contract as what would have been obtained with purchase. Commercial Capital Corporation’s Analysis Commercial’s NPV is $. 1516 million (see Table 3). This was determined by using the present values of the four year lease agreement between Prudent and Commercial. We concluded that Commercial’s discount rate will be 10% because of their opportunity cost. Commercial needs to have a residual value on the DAS of 6. 8 million or greater, which will give them a positive net present value. Therefore, if their net present value shows negative, they would not want to lease to us. Assuming Commercial receives the same 5 year MACRS rate on the equipment purchase, then the system should be worth 7. 01 million (book value) at the end of year 4 (see Table 4). This allows Commercial to have a positive NPV of $. 1516 million (see Table 4). Therefore, they would be willing to lease the DAS to us. Recommendation: Although our calculation concluded that leasing has a negative net present value, it is still lower than purchasing the equipment outright. The net advantage for Prudent to lease equals $. 56 million in savings. This was calculated by taking the difference of the NPV’s of Table 1 and Table 2. Therefore, we feel that it is in the best interest of Prudent to lease the equipment. There are several advantages for Prudent to lease. First, Prudent will know the outflows of cash that will be used for the DAS, which will significantly reduce the firm’s specific risk. Second, we will not have to worry about determining the residual value and selling it in the fourth year. Third, the company will be able to leave their temporary investments which otherwise would have to be sold to purchase the equipment. Finally, the equipment will only be needed for four years, the additional cost to purchase the system is not worth the four year investment. As a result, leasing is our best option. Appendix Table 1: Prudent Solutions, Inc. (lessee) Estimated Cash Flows for Purchasing (DAS) (In Millions of Dollars) Year 0Year 1Year 2Year 3Year 4 Equip cost($41. 25) Maintenance.