Question:As the supervisor of a facilitites engineering department, you consider mobile cranes to be critical equipment. The purchase of a new medium-sized, truck-mounted crane is being evaluated. The economic estimates for the two best alternatives are shown in the table below. You have selected the longest useful life (nine years) for the study period and would lease a crane for the final three years under Alternative A. On the basis of previous experience, the estimated annual leasing cost at that time will be $66,000 per year (plus the annual expences of $28,000 per year). The MARR is 15% per year. Show that the same selection is made witha) the PW methodb) the IRR methodc) the ERR methodd) Would leasing crane A for nine years, assuming the same costs per year as for three years, be preferred over your present selection? (MARR=15%)For Alternative A:Capital Investment=$272,000Annual expenses=28,800Usueful life (years)=6Market value (at end of life)=$25,000Alternative B:Capital Investment=$346,000Annual expenses=19,300Usueful life (years)=9Market value (at end of life)=$40,000I feel pretty confident that I will be able to do the work for the PW method and the IRR method on my own, but would like to know which method you choose so that I can check mine. I need more help with problems c and d. Please show your work on the ERR method. Thank you.