$($please make sure to use equation to answer it not spreadsheet like sxcel $)$ Minecrafting Incorporated is a mining company that is looking for sustainable power generation

options for a remote location in Northern Ontario. The current option on the table is to connect

the site to the regular hydroelectric grid and pay an estimated $$11,000$ in annual energy cost. The

company identified two alternative energy sources: solar and wind. The solar energy alternative

has a useful life of $6$ years, will require procurement and installation cost of $$23,000$ and annual

maintenance cost of $$1,600.$ The solar system will have a salvage value after $6$ years of $$1,200.$

The wind system has a useful life of $8$ years, with an initial cost of $$16,500$ and annual operation

and maintenance cost of $$1,500,$ and a decommissioning cost $($negative salvage value$)$ after $8$

years of $$2,000.$ Both systems will generate enough power such that the electric system will be

self$-$sufficient and run entirely without the need of connecting to regular hydroelectric grid.

For economic analysis, the MARR is set to be $5\%,$ and alternatives are replicable in the future

with exact cost$/$salvage estimates; including initial and running costs. There is no end date for

this project$$s life. Using an appropriate method of analysis, choose the better alternative. Show

calculation steps leading to this choice and provide explanations whenever possible