Please Solve: Calculate AW for each Option.

3. (10] An engineering rm is considering replacing its old metal nishing machine with a new one: Option 1: Buy a new machine iat will cost $15,000 (after trade-in of the old machine) plus require a $1000 per year annual maintenanee fee {to he paid at the END of each year}. Salvage value after 10 years = $1000. Option 2: Lease a machine for $3000 per year (to be paid at the END of each year} with no additional maintenanoe fee. Salvage value after 10 years = 0. Option 3: Repair old machine now (at time 0] for $5000 and pay $2000 per year in annual maintenance costs [to he paid at the END ofeaeh year). Salvage value after 10 years = 0. This engineering firm has an annual effective MARE of 10%. Using a 10 year planning horisronI which option has the least AW of costs or EUAC'? You must calculate and show the AW of costs of each option