Problem 5 (20 points) Guilford Municipal Development Group intends to develop an automated system to help with their project selection process. There are three system alternatives under consideration: Alpha, Beta, and Charlie. The costs associated with each system are shown in the table below. Note: Assume all cash flows occur at the end of the year(s) specified. Cost Component Development Beta $10,000 immediately Charlie None Programming Alpha $100,000 immediately $150,000 Year 1 $45,000 immediately $35,000 Year 1 $50,000 Years 1-10 $30,000 Years 1-10 None Operations Support $45,000 immediately $30,000 Year 1 $80,000 Years 1-10 $40,000 Years 1-10 $150,000 Years 1-10 None a) If each system is expected to have a 10-year life, calculate the net present value for each system if the cost of capital is 8%. (15) b) Specify which system should be selected and why