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4.38 The manager of engineering at the 900-megawatt Hamilton Nuclear Power Plant has three options to supply personal safety equipment to employees. Two are vendors who sell the items, and the third alternative is to rent the equipment for $50,000 per year, but for no more than 3 years per contract. These items have relatively short lives due to con- stant use. The MARR is 10% per year. Vendor R Vendor T Rental Initial cost, $ -75.000 -125,000 0 Annual upkeep, $ per year -27,000 -12,000 Annual rental, $ per year 0 -50,000 Salvage value, $ 0 30,000 0 Estimated life. years 3 Maximum of 3 b. Determine which of the three options is cheaper over a study period of 3 years. How would your answer to the previous problem change is rent was due in full at the start of each year