LUCID an electric car manufacturer company following the recent trend is planning to contribute to stopping global warming by going almost C02 emission free by 2031. Currently, LUGID produces 300 tons of C02 per year where each ton of C02 production cost the company $400,000 because of taxes. They have an alternative that requires them to buy an equipment with initial cost of $15,000,000 and this will help reduce the C02 emission 10% each year with a maintenance price of $50,000 per ton payable at the end of each year. The Project manager of the company thinks this is not the most efcient way and suggest starting a student competition at USC to find out the best altematives. They are awarding top student groups with the prize of $5,000,000. Students are expected to come up with a more efficient plan to deal with the situation. Project managers believe that students can find another method that helps them reduce Co2 emission by 16% every year with a maintenance cost of $450,000 per tons but need the same equipment. Only if they go with the student competition, company will get a loan of $15,000,000 for the equipment payable in 10 years with equal end of 2-year payments with nominal interest of 6% compounded annually. Assume the TVOM of money is 12% per year 00mp0unded annually and 10-year planning horizon. a) Calculate the future worth of the original alternative at end of year 10. [10 points] 1)) Determine the payments for the loans if they go with the student competition. [5 points] 0) Determine the future worth of student competition alternative. Which alternative would you choose? Explain your rationale. [15 points]