A company owns and operates an electric sign that uses 300individual lamps to display messages. The sign currently uses bulbsthat cost $2.50 each and last for an average of 2 years. Theselamps draw 60 watts of power each. The company is consideringswitching to LED bulbs that have an estimated life span of 10 yearsand cost $30 each. The LED bulbs only draw 7.5 watts of power forthe same light levels. Replacing the lamps requires specialequipment and labor that will cost $1,200 dollars. This work isperformed every two years for the current lamps and at the end of10 years for the LED lamp. The sign operates 2500 hours each year.Electricity costs $0.075/kWh. The company uses 7% as its rate ofreturn. Assume that the maintenance protocol replaces all 300 lampswhen the average lifetime is reached. Consider costs to be negativenumbers and benefits as positive a.) Compute the total annual costof operating the sign using the 300, 60 watt lamps. DO NOT includedollar signs the answer. b.) Compute the total annual cost ofoperating the sign using the 300, 7.5 watt LED lamps. DO NOTinclude a dollar sign in the answer. (Note: this is a cost andshould be a negative value c.) Determine the present worth ofbenefits by subtracting the expenses of owning and operating theLED bulbs from the conventional bulbs. (Hint: comparing thealternatives requires equal life spans. Use least common multipleof lives) d.) Compute the benefit-cost ratio