Question 1: [10 Marks) First: Recalibration of sensitive measuring devices costs $8,000 per year. If the devices will be re-calibrated for each of 6 years starting 3 years after purchase. Calculate the 8- year equivalent uniform series at 16% per year. [4 marks] Second: The cash flows for two small raw water treatment systems are shown. A system should be selected on the basis of an annual worth analysis at 10% per year interest. MF UF First cost, $ Annual cost, $ per year Salvage value, $ Life, years -33,000 -8,000 4,000 3 -51,000 -3,500 11,000 6 a. Determine the system that is economically better. Show detailed calculations. [5 marks] b. If the lifetime of the UF system is unlimited (n = infinity), write up the equation of the annual worth of that system? [1 mark]