Using exactly the same information from Problem No. 1 above, calculate the Annual Worth of Project X at 8% per year interest rate. You can see the data in picture 1, please answer this problem asap. Thank you for your help. ### Present Worth Analysis of Projects X and YUsing the cost data for Project X and Project Y below, conduct a Present Worth Analysis to calculate the Present Worth of Project X at time 0 over the Least Common Multiple (LCM) years of the life of both X and Y. Given an 8% per year interest rate.#### Project Data| Attribute | Project X | Project Y ||----------------|-----------|-----------|| **First Cost** | -60,000 | -150,000 || **Annual Cost**| -12,000 | -7,000 || **Salvage Value** | 5,000 | 80,000 || **Life** | 10 | Infinity |- **First Cost**: Initial investment required for the project.- **Annual Cost**: Ongoing annual expenditure.- **Salvage Value**: The estimated residual value at the end of the project life.- **Life**: Duration of the project's operation (in years).This analysis helps in comparing and evaluating the viability of both projects based on the present worth of their cash flows over the specified time frame, accounting for the interest rate. Using exactly the same information from Problem No. 1 above, calculate the Annual Worth of Project X at 8% per year interest rate.- Options provided for the calculation result: - -19,764 - -20,597 - -21,892 - -18,790

Cash flow:The net amount of cash or cash equivalents that enters and exits a business or financial investment during a certain time period is referred to as cash flow. It is an essential indicator of a business's financial health and performance, giving information about its capacity to generate positive cash inflows and pay bills.The annual Worth (AW) of a project can be calculated using the following formula:Where:PW is the Present Worth,FW is the Salvage Value at the end of the project,A is the present worth factor.In this case:PW for Project X is -138,205 (given),FW for Project X is 5,000 (given),The interest rate is 8% per year.The present worth factor (A) can be calculated using the formula:Now, let's calculate A:Now, substitute the values into the Annual Worth formula:Therefore, the Annual Worth of Project X at an 8% per year interest rate is approximately -21,512.31.Among the given options, the closest one is -21,892.