A furniture manufacturer is considering the installation of an automatic machine for boring holes to replace two manually operated machines that now provide the same total capacity. The proposed machine will cost $15,000 plus $400 in installation expenses to get it ready to operate. If acquired, it will depreciate by straight-line method assuming a 10-year life and zero salvage value. Annual operating and maintenance costs are estimated to be $8, 800 in the first year and will increase by $440 per year thereafter. Assuming a 15% minimum attractive rate of return determine the minimum EAC-Total for the challenger. b) For the two existing machines the following table provides a summary of the EAC calculations for both of the two machines added together. Based on your results from part a) of this question and the above information when do you recommend replacing the two manually operated machines with an automatic machine and fully justify your recommendation for full marks