A contractor purchased a new crawler tractor 3 years ago for $140,000. the tractor has an estimated useful life of 12,000 hours and an estimated salvage value at the end of the useful life of 20% of the purchase price. The contract wants to determine an equipment rate for the tractor under the following three scenarios: Average usage of 800 hours per year 2. Average usage of 1000 hours per year 3. Average usage of 1500 hours per year Operating costs are $42.00/hr including a $26.50/hr labour cost for the tractor operator. The contractor desires a profit of 3% on his equipment fleet and a MARR of 12% to cover his each equipment usage scenario