1. Cummins Crane Corporation (3C) is considering replacing its controllers on its heavy lift cranes with new portable infrared controllers. 3C expects to achieve cost savings of $15K the second year,

increasing by $1500 each year thereafter for the next 4 years. » Draw the Cash Flow Diagram (10 points) b. At an interest rate of 12% per year, what is the equivalent annual worth of the savings? (40 points)