Water supply for an irrigation system can be obtained from a stream in some nearby mountains.Two alternatives are being considered, both of which have essentially infinite lives, provided proper maintenance is performed.The first is a concrete reservioir with a steel pipe system and the second is an earthen dam with a wooden aqueduct.Below are the costs associated with each.Compare the present worths of the two alternatives, using an interest rate of 9%.Which alternative should be chosen {Perform all calculations using 5 significant figures and round any monetary answers to the nearest cent}?