1. A forklift will last only for 2 more years. It costs $5000 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 $2000 a year.
   1. IF the discount rate is 5% per year, should you replace the forklift?
   2. What if there is an installation cost of $5000 on top of the $20,000?
   3. What if in part b, the discount rate is 7%? Please answer with an explanation. Thanks!