Question: Question # 5 (6 points) Two contractors in Qatur have submitted the proposals (A and B) to prepare a parking area with a MARR of

Question # 5 (6 points) Two contractors in Qatur have submitted the proposals (A and B) to prepare a parking area with a MARR of 10% per year. Proposal A includes new high-quality curbs, grading, and paving at an initial cost of ($250 per m' of the parking area). The expected life of the parking lot surface is 4 years, with annual costs for maintenance and repainting of strips of $3000. According to Proposal B. the fair-quality pavement with an initial cost of ($600 per m of the parking area) and an expected life of 12 years. The annual maintenance cost will be negligible for the parking area, but the markings will have to be repainted every 2 years (at years 2, 4, 6, 8 and 10) at the cost of $5000 for each repainting, Using Annual Worth Analyses, find the minimum area of parking lots that would justify using the pavement with higher quality (proposal A)

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