You are the design consultant comparing two pump options. The first option has an installation cost of $36,000 and lasts 40 years with $1,000 maintenance every 10 years. The second option has an installation cost of $30,000 and lasts 40 years if a large refurbishment of $15,000 is conducted after 20 years. Assuming a 5% annual interest rate, what is the difference in present value between options 1 and 2? (Option 1 Option 2) a. $1,711 b. $2,710 C. -$6,000 d. $1,569