STEP-BY-STEP ANSWER:
Step 1: Identify the system’s initial state properties (internal energy, pressure, temperature) and the corresponding properties of the reference environment.
Step 2: Use the definition of exergy for a fixed mass by applying the formula: Exergy = (U - U0) + P0(V - V0) - T0(S - S0), where U, V, and S are the system's internal energy, volume, and entropy, respectively, and the subscript 0 denotes the reference state.
Step 3: Calculate the changes in each property relative to the environment to obtain the work potential.
Step 4: Sum the contributions from energy, work (P·V), and entropy terms, considering the environmental (dead state) conditions.
Final Answer: The system’s exergy quantifies the maximum useful work that can be extracted, accounting for the differences between the system’s state and the environment.