In a developing country, two alternatives are under consideration for delivering water from a mountainous area to an arid area in the country's southern region. A coated heavy-gauge plastic pipeline can be installed, with pumps spaced appropriately along the pipeline. Alternatively, a canal can be built; however, it will have greater water loss than the pipeline, due to evaporation and poaching along the canal route. To compensate for the water loss, the canal will have a greater carrying capacity than the pipeline. It is estimated it will cost $125 million to install the pipeline. Major replacements are every 15 year at a cost of $10 million. Pumping and other annual operating and maintenance costs are estimated to be $5 million. The canal will cost $300 million to construct, its annual operating and maintenance costs are anticipated to be $1 million. Major upgrades of the canal are anticipated every 10 years, at a cost of $5 million. Based on a 5 percent MARR and an infinitely long planning horizon, which alternative has the lowest Capitalized cost? State your recommendation and any assumptions you make. use the Capitalized Value concept & formulation in section 3.9 for your capital costs