a. The remaining useful life of an asset that results in the minimum annual equivalent cost is known as the: 0 Economic Salvage Life 0 Economic Service Life 0 Operating Life 0 Useful Life b. Which of the following statements is incorrect in relation to Sunk Costs: 0 Costs that have already been incurred and which cannot be recovered to any significant degree. 0 Any past cost that is unaffected by any future investment decision. 0 Economic decisions should be based on the best possible future results. 0 Should be considered when making economic decisions. c. True or False, Different operating costs must be included for both the defender and the challenger 0 True 0 False 0'. True or False, The current market value and the tradein allowance typically differ? 0 True 0 False e.lWhich of the following statements is incorrect in relation the guidelines for Replacement Analysis with Tax Considerations: 0 When calculating the net proceeds from sale of the old asset, any gains or losses can be omitted 0 Incorporate the tax effects (gains l losses) whenever an asset is disposed of 0 Incorporate the tax effects of depreciation allowances. 0 Whenever possible, replacement decisions should be based on the cash flows after taxes