Question: An engineer has received two bids for an elevator to be installed in a new building. 1. Given a 10% interest rate, which bid should

An engineer has received two bids for an elevator to be installed in a new building.

1. Given a 10% interest rate, which bid should he accept? Show work

Alternative Westinghome itis
Installed cost $45000 $54000
Annual cost $2700 $2850
Salvage value $3000 $4500
Life, in years 10 years 15 years

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