Allen Construction purchased a crane 6 years ago for $130,000. They need a crane of this capacity for the next 5 years. Normal operation costs $35,000 per year. The current crane will have no salvage value at the end of 5 more years. Allen can trade in the current crane for its market value of $40,000 toward the purchase of a new one, which costs $150,000. The new crane will cost only $8,000 per year under normal operating conditions and will have a salvage value of $55,000 after 5 years. If MARR is 20%, determine which option is preferred. Click here to access the TVM Factor Table Calculator Part a Use the cash flow approach (insider's viewpoint approach). Show the EUAC values used to make your decision: Keep existing crane: $ Replace with new crane: $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is +10. Preferred option? Save for Later Attempts: 0 of 3 used Submit