The following alternatives are being considered for a lab project. Find the present worth for each option to support a project that requires 20 years of service. Assume the interest rate is 8%. Which option is less expensive in terms of present value? First Cost $39,000 $20,000 Salvage Value $2,000 $4,000 Annual Maintenance $1, 200 $1,800 Useful Life (years) 20 10