Please explain in detail and show the formulas used.

Q4. The Okanagan Golf and Country Club is evaluating two different irrigation system options. An underground automatic irrigation system will cost $9.2 million to install and $80,000 pre-tax annually to operate. It will not have to be replaced for 20 years. An aboveground system will cost $6.8 million to install, but $190,000 pre-tax per year to operate. The aboveground equipment has an effective operating life of nine years. The country club leases its land from the city and both systems are considered as leasehold improvements; as a result, straight-line capital cost allowance is used throughout and neither system has any salvage value. Required: 3 Create a financial model to determine which method should be selected if we use a 13% discount rate and the tax rate is 39% ? Also calculate if your decision would be different if the costs per year were 10% more and if the costs per year were 10% less