Question $5$

$1pts$

A mechanical engineer must recommend an $\frac{A}{C}$ system to a commercial building owner. The owner intends to own the building for at least $10$ years. A conventional split system has a design life of $10$ years, a cost of $$51,000,$ and annual operating costs of $$14,000.$ A chilled water system has a design life of $10$ years, an initial cost of $$64,000,$ and annual operating costs of $$13,000.$ Using a rate of return of $6\%,$ determine the present worth index of the incremental investment up to the chilled water system. Express your answer to two decimal places.