An engineer at a fiber optic manufacturing company is considering two robots to reduce costs in a production line. In-place robot X has a current market value of $82,000, annual maintenance and operation (M&O) costs of $30,000, and salvage values of $50,000, $42,000, and $35,000 if retained 1, 2, and 3 more years, respectively. The challenging robot Y has a first cost of $97,000, annual M&O costs of $27,000 whenever it is purchased, and salvage values of $66,000, $51,000, and $42,000 after 1, 2, and 3 years, respectively.

What is the best economic plan if a 2-year study period is used at an interest rate of 12% per year?