The operating cash flow for the acquisition and maintenance of a clamshell for excavation is given by A_t in the table below. Three financing plans, each charging a borrowing rate of 8% but having a different method of repayment, are represented by three different cash flows of _t. Find the net present value for each of the three combined cash flows for operating and financing if the MARR is specified to be 8%. Determine which financing alternative should be selected, using the NPV method.

Year	Operating	Financing t
t	At	(a)	(b)	(c)
0	-$80,000	$40,000	$40,000	$40,000
1	$30,000	-$10,020	-$3,200	-$13,200
2	$30,000	-$10,020	-$3,200	-$12,400
3	$30,000	-$10,020	-$3,200	-$11,600
4	$30,000	-$10,020	-$3,200	-$10,800
5	$30,000	-$10,020	-$43,200	$0