Two flash vaporizer machines are considered for the upgrade of biodiesel production for a project that is scheduled to last 8 years. An engineer is asked to perform an analysis to select the most economical machine. He prepares the following information for the evaluation. Machine X has a useful life of 8 years and machine Y has a useful life of 11 years. MARI? = 13% Machine X Y Initial Investment $29,000 $32,000 Net Annual Revenue, AR $10,500 $12,000 MVlN) $6900 $6000 Useful Life. N, Years 8 11 Use the above information to answer the following: a. What is the study period. T for the project? years. b. What is MV (8} for Machine Y? dollars. c. What is the PW of Machine X? dollars. d. What is the PW of Machine Y? dollars. e. Based on parts a. b. c, and d. which machine is the best economic choice? multiple choice Machine X. Lowest PW Machine Y, Lowest PW Machine Y, Highest PW Machine X. Highest PW