When completing the exam, each answer shall include the following A statement identifying the method used in determining the answer Cash Flow Diagrams for each component of the question/answer "The formula(s) used for each calculation . A proper statement defining the use of the factors found in Appendix B "Interest for Discrete Compounding -e.g., Present Worth of a Future Amount at 8% annually for 25 years should be written as: "(PF, 896, 25) 0.1460" prior to its use in a calculation A concluding statement answering the ultimate question Question 1 (25%) or The District of Columbia wants the City Engineer to evaluate three (3) alternatives f supplementing the City's water supply as follows Alternative 1: Continue deep well pumping at an annual cost of $10,500 Alternative 2: Install an eighteen The initial cost for this is $25,000, with an annual pumping cost of $7,000 Alternative 3: Install a twenty-four (24) inc The initial cost for this is $34,000, with an annual pumping cost of $5,000. diameter pipe from the surface reservoir. h diameter pipe from the surface reservoir 20 years. Alternatives 2 and 3 al ageval e (18) inch " - Assumptions: MARR 8% Economic life 10% of initial cost. Each Alternative is equally effective in meeting the District of Columbia's increased water needs. Determine which alternative the City Engineer should recommend