5- An elevator company has redesigned their prod- uct to be 50% more energy efficient than hydraulic de signs. Two designs are being considered for implementation in a new building. (a) Given an interest rate of 20% which bid should be accepted? Alternatives Installed cost $45,000 $54,000 2850 4500 15 Annual cost Salvage value Life, in years 2700 3000 10 (b) Research and list a few attributes that the com- pany might be using in the elevators' major sys- tems: drive, cab, hoist, and control mechanisms that make them more energy efficient