18 The data of three mutually exclusive projects (X, Y, and 2) are given below. X Y nitial cost 10,000 12000 11,000 Annual benefit 6000 5000 6,100 Annual operation cost 500 500 750 Salvage values at end of useful life 1000 3000 1,894 Useful life (years) 2 years 4 years 7 years The Interest rate is 10%. Use the present worth analysis to compare the alternatives over an analysis period of 5 years. Estimated market value (Terminalval ue) at end of year 5 analysis period 5,000 10,000 The net present worth (NPW-PWB-PWC) of Z is approximately equal to: 4000