3. A pipeline engineer working in Kuwait for BP (formerly British Petroleum) wants to perform a capitalized cost analysis on alternative pipeline routings-one predominately by land and the second primarily undersea. The undersea route is more expensive initially due to extra corrosion protection and installation costs, but cheaper security and maintenance reduce annual costs. Select the better routing at 10% per year (use a capitalized cost analysis). (20 points) Land Undersea Installation cost. S million Pumping. operating, security. S million per year Replacement of deteriorated pipe $ million each 40 years Expected life, years 225 350 20 -50