Certain company is trying to decide between two material handling equipment alternatives for a warehouse. The first alternative, a counterbalance lift truck, will have an initial cost of $$55,000,$ an annual maintenance cost of $$3,000,$ an annual operating cost of $1,500,$ will last $3$ years, and a $$10,000$ salvage value. The second alternative, a narrow aisle vehicle, will have a first cost of $$75,000,$ an annual maintenance cost of $$2,500,$ an annual operating cost of $$1,000,$ will last $8$ years and a $$25,000$ salvage value. Determine which equipment should be selected on the basis of present$-$worth values using an interest rate of $12\%$ per year.