3. Aztec, a manufacturer of hard board and fiber cement sidings and panels, purchased equipment for its new product line 9 years ago at a cost of $43,000. The asset has a market value of $17,700, if it were sold now. The current asset is expected to provide adequate services for another 3 years, given that the annual maintenance costs of $7250 is provided. It is estimated that, if the current asset is continued in service, its final market value will be $9600 three years from now. However, due to changing customer needs, a new piece of machinery is being considered for the product line. The company can purchase the new equipment at a cost of $51,000 and a $540 salvage value at the end of 15-year economic life. The new equipment has annual maintenance costs of 55250. The SL method with a 15-years life and zero market value is used to write off both assets. Determine whether the current equipment should be replaced now or be kept for another 3 years based on an effective tax rate of 38% and an after-tax MARR of 2% per year. (20 points) Current Asset EOY BTCF Depr. TI Income ATCE Taxes 0 1-3 3 New Asset: EOY BTCF Depr. TT ATCE Income Taxes 0 1-15 15