Problem 2(60 points) Chevron currently operates an oil exploration project with Saudi Aramco Company. The project will run for the next 20 years with an initial investment of $0.75M and annual operating cost of $65000/yr for the next 7 years, and also $80,000/yr for the next 8 years. The annual operating cost for the last five year is estimated as $95000/yr with a gradient increment of $1000. A complete overhaul of the fracking equipment will be conducted at the end of year 5 and 14 at an extra cost of $65400 and 85200 respectively. The equipment used will be dispose of at an estimated salvage value of $350000. Considering an interest rate of 10% per year: a) Determine the engineering economy symbols and their value for each option. b) Construct the Cash flow diagram c) Calculate the Present Worth of the Cash flow Estimates