ad A new storage tank can be purchased and installed for $10,000. This tank would last for 10 years. An old storage tank of capacity equivalent to the new tank is available, and it has been proposed to repair the old tank instead of buying the new tank. If the old tank were repaired, it would have a useful life of 3 years before the same type of repairs would be needed again. Neither tank has any scrap value. Money is worth 6 percent compounded annually. On the basis of equal capitalized costs for the two tanks, how much can be spent for repairing the existing (i.e., old) tank