Question: 3. (6) An engineer has received two bids for an elevator to be installed in a new building. Given a 10% MARR, which bid should

3. (6) An engineer has received two bids for an elevator to be installed in a new building. Given a 10% MARR, which bid should be accepted. Use the Capital Recovery Formula and calculate the net annual worth. Installed Cost Service Life (years) Annual Operating Cost Salvage Value Pioneer $47,500 12 $2,700 S3, 500 Otis $55,000 15 $2,900 S4, 500

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