A civil engineer is considering two pumps for an irrigation system. Pump A can be purchased for \($19\),400 with annual operating and maintenance expenses estimated to be \($7\),000. Alternatively, Pump B can be purchased for \($15\),000 with annual operating and maintenance costs estimated to be \($8\),400.A10-year planning horizon is to be used. Salvage value for each pump at the end of the tenth year is estimated to be 10 percent of the purchase price. MARR is 12 percent/year.

Determine the preferred alternative based on a present worth analysis.