Question: A heat exchanger has been designed for use in a chemical process. A standard type of heat exchanger with a negligible scrap value costs ($

A heat exchanger has been designed for use in a chemical process.

A standard type of heat exchanger with a negligible scrap value costs $\$ 4,000$ and will have a useful life of $6 \mathrm{yr}$. Another proposed heat exchanger of equivalent design capacity costs $\$ 6,800$ but will have a useful life of $10 \mathrm{yr}$ and a scrap value of $\$ 800$. Assuming an effective compound interest rate of $8 \% / \mathrm{yr}$, determine which heat exchanger is cheaper by comparing the capitalized costs.

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