Other Chegg solutions for machine Y are incorrect. Please show your work, trying to understand why the solution in the book is wrong.

Machine X has an initial cost of $10,000, annual maintenance of $500 per year, and no salvage value at the end of its four-year useful life. Machine Y costs $20,000. The fast year there is no maintenance cost. The second year, maintenance is $100, and increases $100 per year in subsequent years. The machine has an anticipated $5000 salvage value at the end of its 12-year useful life. If interest is 8%, which machine should be selected