$9-13.$ Use the PW method to select the better of the following alternatives:Annual ExpensesDefender: Alternative $\backslash ($ A $\backslash )$Challenger: Alternative BInsurance and property taxes$5\backslash \%$ of initial capital investment Assume that the defender was installed five years ago. The MARR is $8\backslash \%$ per year. $(9\mathrm{.}7)$ Definition of alternatives: $\backslash ($ A $\backslash )$ : Retain an already owned machine $($defender$)$ in service for $10$ more years. $\backslash ($ B $\backslash )$ : Sell the defender and lease a new one $($challenger$)$ for $10$ years. Alternative $\backslash ($ A $\backslash )($additional information$)$: Cost of defender five years ago $\backslash (=\backslash$$ $500,000\backslash )\backslash ($ B V $\backslash )$ now $\backslash (=\backslash$$ $111,550\backslash )$ Estimated MV eight years from now $\backslash (=\backslash$$ $60,000\backslash )$ Present MV $=\backslash$$$180,000$