14-71 Given the following data

14-71 Given the following data, calculate the present worth of the investment. First cost = $60,000 Project life = 10 years Salvage value = $15,000 MARR = 25% General price inflation = 4% per year Annual cost 1 = $4500 in Year 1 and inflating at 2.5% per year Annual cost 2 = $7000 in Year 1 and inflating at 6% per year Annual cost 3 = $10,000 in Year 1 and inflating at 4.5% per year Annual cost 4 = $8500 in Year 1 and inflating at -2.5% per year