Cooling water is to be pumped from a reservoir to rock drills at a quarry site using the system sketched in Fig. P1-40. The required flow rate is 600 gpm, and the water must leave the nozzle at 120 ft/s. The system is operated 80 hr per week. Electricity costs are $0.05/kWh energy charge and $9.00/kW demand charge. The system is to be constructed of schedule 40 commercial steel pipe. The pump is 70 percent efficient. Using a parametric study of pipe diameters and the associated economics, specify and defend your selection of a pipe diameter to accomplish the specifications.