A manufacturing company with operations in Denver, CO is trying to determine whether it should upgrade the existing conveyors or purchase new ones. The presently owned conveyors were purchased 4 years ago for $350,000. They have a current market value of $60,000. However, for an investment of $120,000 now, they can be adequate for another 5 years, after which they would be sold for $50,000. The operating costs would be $35,000 per year Alternatively, new conveyors cost $420,000. They are expected to have a 10-year economic service life with annual operating costs of $8,000 and a $75,000 salvage value at year 10. Determine whether the company should upgrade the existing conveyors or purchase new ones. Use a MARR of 10% per year