(3) A new city engineer wants to upgrade some city's solid waste management facilities and equipment. The capital cost of the upgrades has been estimated to be $850,000, and it will cost approximately $6,000/year to maintain the facilities and equipment. The expected useful life of the upgrades is 25 years. The interest rate is 5%. (25 points) (a) What is the present worth of the capital and maintenance costs of the facility upgrades? (b) What is the annual worth of the upgrades? (c) Assuming the maintenance costs do not begin until the end of the third year, what would the annual worth of the upgrades be?