Saltine Chemical Inc. plan to build a chemical plant in Nassau, Bahamas, for the production of Iodized Salt and other industrial based salts. Saltine will spend $$0\mathrm{.}05$ billion in constructing the plant at the onset and $$835000$ in annual maintenance and operating cost for the subsequent years of operation. A complete overhaul of the plant will be carrying out at the end of year $6$ and $8$ at an extra cost of $$148200$ and $132005$ respectively. Saltine intends to run the project for $12$ years before they sell the plant to an indigenous chemical company at a salvage price calculated based on the following equation:

Salvage $=$ Initial cost$(1-0\mathrm{.}10{)}^n,$ where $n$ is the number of years of operation.

Considering an interest rate of $10\%$ per year;

a$)$ Determine the engineering economy symbols and their value for each option.

b$)$ Draw the Cash flow diagram for the estimates

c$)$ Calculate the Present Worth of the project

Hints: Compound Interest Formula

C$.$I $=$ Principal $(1+i{)}^n-$Principal

Simple Interest Formula S$.$I $=$ Principal $x$ Time period $x$ Rate