2. (3 Marks) Your company requires the use of a concrete mixer and you are presented with two options to fill this need: Option 1: You can buy a new mixer for $170,000, with an estimated service life of 5 years, and a salvage value of $20,000. The tax, interest, and insurance components of ownership cost based on average annual value are: Tax: 3%, Insurance: 1.5% and Interest: 4%. Option 2: You can rent a mixer for $40.20 an hour. How many hrs/year of operation would you need to be using the concrete mixer to make the two options cost the same