A special-purpose 30-horsepower electric motor has an efficiency of 89%. Its purchase and installation price is $2,300. A second 30 -horsepower high-efficiency motor can be purchased for $3,300, and its efficiency is 92%. Either motor will be operated 3,500 hours per year at full load, and electricity costs $0.11 per kilowatt-hour (kWh). MARR =15% per year, and neither motor will have a market value at the end of the eight-year study period. a. Which motor should be chosen? b. For an incremental investment of $1,000 in the more efficient motor, what is the PW of the energy savings over the eight-year period? Recall that 1hp=0.746kW. Click the icon to view the interest and annuity table for discrete compounding when i=15% per year. a. The PW of the motor with the efficiency of 89% is $. (Round to the nearest dollar.)