A contractor wants to buy a concrete mixer. There are two options available for this purchase. a. Which one the contractor should select? Both options have n=8 (effective life) and i=6%. Use the EAW method. b. If the MARR of the company is 8% which option should be selected? Option A Cost ($) Initial cost 110000 Major repair every 2 years 7000 Annual operation cost 8000 Salvage value 10000 Option B Initial cost Major repair at the end of years 2 and 6 Annual operation cost for the first 4 years Annual operation cost for the rest of life Salvage value Cost ($) 90000 20000 (each) 8000 15000 0