A forklift will last for only $2$ more years. It costs $$5,000$ a year to maintain. For $$20,000$ you can buy a new lift that can last for $10$ years and should require maintenance costs of only $$2,000$ a year.

a$-1.$ Calculate the equivalent cost of owning and operating the forklift if the discount rate is $4\%$ per year.

$($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

a$-2.$ Should you replace the forklift?

b$-1.$ Calculate the equivalent cost of owning and operating the forklift if the discount rate is $12\%$ per year.

$($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

b$-2.$ Should you replace the forklift?

$\backslash$table$[[$a$-1.,$Equivalent cost,$$,5,000\mathrm{.}00$