An electrical utility wishes to decide on whether to build a steam generating power plant or a hydro power facilty. Find the cost of the Hydro plant that makes both choices an equal investment. The interest rate for both choices is 5% compounded annually. The details for the steam plant are: Life: 20 years Initial cost: $10,000,000 Annual Power output: 300,000 MWh Maintenance cost: $0.004/kWh Salvage value: 10% of Initial cost The hydro plant: Life: 30 years Annual Power output: 300,000 MWh Maintenance cost: $0.002/kWh Salvage value: 10% of initial cost