7.27 A joint former cost $60 000 to purchase and $100 000 to install seven years ago. The market value now is $33 000, and this will decline by 12 percent of current value each year for the next three years. Operating and maintenance costs are estimated to be $3400 this year, and are expected to increase by $500 per year. a) How much should the EAC of a new joint former be over its economic life to justify replacing the old one sometime in the next three years? The MARR is 10 percent- b) The EAC for a new joint former tums out to be $10 300 for a 10year life. Should the old joint former be replaced within the next three years? If so, when? c} Is it necessary to consider replacing the old joint former more than three year from now, given that a new one has an EAC of $10 300