4 An architectural engineering firm that has been asked to prepare preliminary plans for the construction of a one-story commercial building. To arrive at some quantitative basis for recommending a type of construction, the engineering firm develops fixed and variable cost data. These data, given below, are assumed to represent the cost of construction and operation for a building enclosing between 2,000 and 6,000 gross square feet Steel Concrete block First cost per square foot Annual maintenance Annual HVAC per square foot Estimated life in years Estimated selvage value $72/ft? $14,000 $3.00 20 10% initial cost $76/ft $9.000 $3.40 20 Frame and brick: $81/ft? $6.000 $3.90 20 5% initial cost The total cost for each type of construction will be a function of the number of gross square feet enclosed by the building. For an interest rate of 16%. a) Draw Total cost as a function of square foot for each alternative b) Identify the ranges of lowest cost