Appledale Dairy is considering upgrading an old ice-cream maker. Upgrading is available at two levels: moderate and extensive. Moderate upgrading costs $6,600 now and yields annual savings of $3,200 in the first year, $2,900 in the second year, $2,600 in the third year, and so on. Extensive upgrading costs $12,550 and saves $7,900 in the first year. The savings then decrease by 20 percent each year thereafter. If the upgraded ice-cream maker will last for seven years, which upgrading option is better? Use a present worth comparison. Appledale's MARR is 8 percent. Click the icon to view the table of compound interest factors for discrete compounding periods when i = 8% The present worth of the moderate upgrading option is $ and the present worth of the extensive upgrading option is $ The upgrading option is better. (Round to the nearest cent as needed.)