
Answer:
Present value of the benefits = $6,240,000
Explanation:
Annual interest Rate given = 10%
Semi-annual Interest Rate = 10%/2 = 5%
Df @ 5% for 6 semi-annuals : (1+r/2) ^-m * n
   = (1+ 0.05)^- 18
   = 0.416
Present Value of the benefits= 0.416 x $15,000,000
                        = $6,240,000
Hence, the present value of the benefits of this saving is $6,240,000.