please solve prts a and b analytically (not on excel) and take a clear photo of solution showing every step clearly and explanantion if needed

1. The State Legislature has mandated a statewide recycling program to include all types of plastic, paper, metal, and glass refuse. Two options for the materials separation equipment are outlined below. The interest rate for state-mandated projects is 6% per year. Contractor option (C): $9 million now and $40,000 per year will provide separation services at a maximum of 12 sites. No contract period is stated; thus the contract and services are offered for as long as the State needs them. Purchase option (P): Purchase equipment at each site for $300,000 per site and expend an estimated $11,000 in annual operating costs (AOC). Expected life of the equipment is 6 years with no salvage value. (a) Perform a capitalized cost analysis for a total of 9 recycling sites to determine the better option. (b) Determine the maximum number of sites at which the equipment can be purchased and still have a capitalized cost less than that of the contractor option