A company is trying to reduce costs for one of its facilities by controlling its insulation. From the two options provided by the contractors, you will need to provide a recommendation for investment using the future cost method. With the interest rate of 14% and the initial cost of $37000, the first option will be painted every three years for $3000 for the duration of 12 years. It is estimated to save $6500 per year in energy. The second option can be installed for $14000 with no maintenance costs and will save $2600 per year.

Provide calculation as well as the cash flow diagram of these transactions.