A consulting engineer is currently evaluating 4 projects for the U.S. government. The present worth values of the costs, benefits, disbenefits, and savings are shown. Assuming the discount rate is 10% per year compounded continuously, determine which projects, if any, should be selected if they are

(a) independent, and

(b) mutually exclusive.

Fair Good Better Best PW of costs, $ 10,000 8,000 20,000 14,000 PW of benefits, $ 15,000 11,000 25,000 42,000 PW of disbenefits, $ 6,000 1,000 20,000 31,000 PW of cost savings, $ 1,500 2,000 16,000 3,000