Answer
$\bigtriangleup PE=-4800000 ft.lbf$
Work Step by Step
Mass of the crane$ = \frac{1200lbf*32.174lb.ft/sec^2}{32.05ft/sec^2*1lbf} = 1204.64lb$
$\bigtriangleup PE=mg(z_2-z_1) $
$\bigtriangleup PE=12000*(0-400) = -4.8*10^6 ft.lbf$
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