3. Angstrom Technologies intends for the company to use the newest and finest equipment in its labs. Precision measurement equipment was purchased 7 years ago for $160,000. Last year a replacement study was performed with the decision to retain 3 anytime in the future. If kept in service, it can be minimally upgraded at a cost of $43,000 to make it usable for up to 2 more years. Its operating cost is estimated at $22,000 the first year and $25,000 the second year. Alternatively, the company can purchase a new system that will have an equivalent annual worth of $47,063 per year over its ESL. The company uses a MARR of 10% per year. Use annual worth analysis to determine when the company should replace the machine