A manufacturing company is proposing two new methods to enhance and increase theproduction line of the company. Method A is expected to cost $1000 while method B isexpected to cost $2400. The...

A manufacturing company is proposing two new methods to enhance and increase the production line of the company. Method A is expected to cost $1000 while method B is expected to cost $2400. The maintenance cost of the production line will increase to $800 per year if method A is applied and $650 per year with method B, which one of the two proposed methods is more economical based on a future worth analysis at an interest rate of 10% per year? Assume a 15-year life for the production line.