A piece of new production equipment will require an investment of $60,000 and is expected to have year-end MVs and annual expenses as shown in the following table. If the MARR is 12% per year, what is the economic life of the production equipment? What is the minimum EUAC? EOY MV, End of year k O&M Expenses for year $30,000 $20,000 $10,000 $ 0 $20,000 $ 34,000 $ 48,000 $ 62,000