This is an engineering economics question!

2. Submit solution for gradingl Your company is required to make a series of payments to the bank. For the next year, no payments are made. From month 13 to 24, they must pay $12,000. From month 25 to 36, they must pay $18,000. The annual interest rate is 7.2%. The bank uses a monthly accounting period (e.g., interest is compounded monthly). Your company is considering three alternatives for repayment of this debt. Evaluate the repayment alternatives (shown below) and include an appropriate cash flow diagram for cach alternative. a) The first alternative is to make a single lump sum payment today (at time 0) Determine the equivalent lump sum payment today that has the same worth as the required series of payments. b) The second alternative is to make 36 equal monthly payments (from time t 1 to Determine the equivalent uniform monthly annuity payment that has the same worth as the required series of payments. [Hint: You can save time by using the result from part a)] ) The third alternative is to make three equal payments at the end of cach year (at times 12, 24, and 36), Determine the equivalent uniform annual payment that has the same worth as the required series of payments. Hint: You can use the result from part b) to find the annual annuityl