A design-build operate Engineering company in Texas that owns a sizeable (30) amount of land plans to lease the drilling rights (oil and gas only) to a mining and exploration company. The contract calls for the mining company to pay $15,000 per year for 20 years beginning 3 years from now (i.e. beginning at the end of year 3 and continuing through year 22) plus $ 8,000 six years from now and 12,000 sixteen years from now. Utilize engineering economy relations to determine the four equivalent values listed below at 15% per year (1) Total present worth Pr in year 0. (ii) Future worth F in year 22 (iii) Annual series over all 22 years. (iv) Annual series over the first 12 years
