QUESTION 3 A pump is needed for 10 years at a remote location. The pump can be driven by an electric motor or by a gasoline engine. Use an annual cash flow analysis and an 3% interest rate to determine the EUAC of the proper method to power the pump using the following data: Gasoline Electric First cost $ 2.400 $9.000 Annual operating cost $ 1.200 $ 250 Annual maintenance $ 300 $ 50 Salvage value $ 300 $ 600 Life (in years) 5 10 a. EUAC = $2,050 for the gasoline b. EUAC = $ 1,600 for the electric motor c. EUAC = $ 1.600 for the gasoline d. EUAC = $ 2.050 for the electric motor OO