Please provide the formulas that have been used

This is cost based , so Annual Revenue is not needed to solve it

Thank you

3 submergible pumps are under consideration. The cost data is given below: Pump1 Pump2 Pump3 First cost ($) 9000 14000 20000 Salvage value ($) 0 1000 1300 Annual operating cost ($) 1600 1100 750 Life (years) 5 10 10 Decide on the best pump alternative based on: (a) PW and AW methods and explain the advantage of using AW criterion over PW criterion. (6) DCFROR criterion using the MARR of 10% set by the company. Would your decision change if the MARR was 5%. Explain your reasoning