Alternative	Fisrt cost	Annual cost	Annual Savings	Life Year
A	$ (1,100,000.00)	$ (24,000.00)	$ 180,000.00	20
B	$ (1,500,000.00)	$ (36,000.00)	$ 245,000.00	20
C	$ (1,750,000.00)	$ (41,000.00)	$ 295,000.00	20

9.24 The local electric company may renovate a number of substations within its system. Various costs and savings can be anticipated, depending on the type of renovation performed. Using benefit/cost analysis and an interest rate of 12%, determine which alterna- tive should be chosen.