Model Variables | Lag of ADF | ADF test statistics@Levels | ADF statistics @ 1 | Order of integration | Remark |

Upfront Costs | 1 | −3.352360 | −1.964183 | I(0) | Stationary |

Upfront Costs | 1 | −3.352360 | −1.964183 | I(0) | Stationary |

Bepb Cash Flow | 1 | −1.488462 | −3.685309 | I(1) | Stationary |

Bepb Cash Flow | 1 | −1.491746 | −3.764309 | I(1) | Stationary |

Earnings | 0 | −1.476422 | −3.684309 | I(1) | Stationary |

Earnings | 0 | −1.134556 | −3.687307 | I(1) | Stationary |

Net Cash-flow PV | 1 | −0.891756 | −4.687352 | I(1) | Stationary |

Net Cash-flow PV |
| −0.976456 | −4.768307 | I(1) | Stationary |