Question: An engineer must choose between two materials for an underground storage tank. A steel tank costs $225,000 and is expected to last 15 years. A

An engineer must choose between two materials for an underground storage tank. A steel tank costs $225,000 and is expected to last 15 years. A fiberglass tank costs $304,000 and is expected to last 30 years. Neither tank has a salvage value at the end of its useful life. Determine the MARR below which the FRP tank is preferred. Express your answer in % (not a decimal) to the nearest 0.1%.

The engineer of problem 4 now wants to consider an aluminum tank as well as the steel and fiberglass tank. The steel tank costs $205,000 and is expected to last 15 years. The aluminum tank is expected to last 25 years. The fiberglass tank costs $291,000 and is expected to last 30 years. None of the tanks has a salvage value at the end of its useful life. At a MARR of 9%, determine the highest cost for the aluminum tank for which it will be the preferred option. Express your answer in $ to the nearest $1,000.

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