A presently owned machine has the projected market value and M&O costs shown below. An outside vendor of services has offered to provide the service of the existing machine at a fixed price per year. If the presently owned machine is replaced now, the cost of the fixed-price contract will be $33,000 per year. If the presently owned machine is replaced next year or any time after that, the contract price will be $35,000 per year. Determine if and when the defender should be repleced with the outside vendor using an interest rate of 10% per year. Assume used equipment similer to the defender will always be available, but that the current equipment will not be retained more than three additional years Retention Year M8O Cost, $ per year Market Value, S 32,000 25,000 24.000 14,000 25.000 26.000 10,000 8000 The defender should be replaced (at the) (Click to select)