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2. [30 points] The following costs are associated with three tomato-peeling machines being
considered for use in a canning plant. Assume the»' use an interest rate of 12%. Which is the best alternative? Machine __
First Cost $63 000 $67 000
0&amp;M Costs 9,000 12 000
Annual Benefit Salvage Value
Useful Life (years) 4 Page 1 of 2

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Try to use spreadsheets to solve problems as follow. Write down the formulas you use and the
answers you get.
For example: Formula is “=m196, 36, 250, 0}” or “=PV[12%}'12, 12*3, 500R, 0]”.
Answer is &quot;PV=$?52?”.

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