10. 4.34 HJ Heinz Corporation is constructing a distribution facility in Italy for products such as Heinz Ketchup, Jack Daniel’s sauces, HP steak sauce, and Lea & Perrins Worcestershire sauce. A 15-year life is expected for the structure. The exterior of the building is not yet selected. One alternative is to use concrete walls as the façade and paint them. This will require painting now and every 5 years at a cost of $80,000 each time. Another alternative is an anodized metal exterior attached to the concrete wall. This will cost $200,000 now and require only minimal maintenance of $500 every 3 years. A metal exterior is more attractive and will have a resale value of an estimated $25,000 more than concrete 15 years from now. Painting (for concrete) or maintenance (for metal) will be performed in the last year of ownership to promote selling the property. Use future worth analysis and MARR = 12% per year to select the exterior finish

(a) using tabulated factors, and

(b) a spreadsheet.