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The Engineering Economics class at Stevens requires a solution to
The Engineering Economics class at Stevens requires a solution to allow students toshow their working on exams. This will serve as a temporary solution while they waitfor in-person exams to resume. In person exams are not expected to resume foranother 3mm. Students in the class have been presented with two temporaryoptions. For the first option, students will be given personal lpads which they can useto electronically capture and upload their exam solutions to Canvas. This option willcost $40,000 to purchase, with an annual Apple Care (warranty) cost of $25,000. Thisoption will result in an annual savings of $35,000 because fewer graders will beneeded, and will have a salvage value of $30,000. The second option is a futuristicmind reader machine which will automatically read each students mind, and uploadtheir thought process directly to Canvas for grading. This system will surprisingly only cost Stevens $80,000, will have annual expenses of $35,000, annual savings of$60,000 and a salvage value of $60,000. Both options will be MACRS depreciated. Question:Based on your IRR analysis, which is the best option? No partial credit is available for this question. 0 Mind Reader Option0 None of the Options0 Ipad Option 0 Both Options
