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(6) Optional Problem: Assume that a senior engineer would like to to determine which of the following project alternatives is better and has enlisted

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(6) Optional Problem: Assume that a senior engineer would like to to determine which of the following project alternatives is better and has enlisted your help to conduct a Rate of Return (ROR) analysis. If the MARR is 7% and the project life is 25 years, which is the better project? Use spreadsheet functions to solve the problem. Submit your spreadsheet solution. (2 bonus points) Characteristics Alternative First Cost ($) 18,000 35,000 Annual Operating Costs ($/yr.) 4,000 3,500 Annual Benefits ($/yr.) 6,000 7,000 Salvage Value ($) 3,000 4,500

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