An existing asset is expected to last five years. The details of the current asset are shown below with those of a possible replacement challenger. The defender has zero salvage value at the end of the fifth year. Interest is 15% per year. Use the one-additional-year analysis technique to determine when (beginning of what year) the replacement asset would be chosen, if at all. NEXT FIVE YEARS FOR CURRENTLY OWNED ASSET ADDITIONAL YEARS VALUE AT BEGINNING OF YEAR ANNUAL OPERATING COST REPLACEMENT ASSET 1 $30000 24000 17000 7000 2000 $25000 | FIRST COST 20000 OPERATING COST 20000 L LIFE 20000 L SALVAGE VALUE 200001 $45000 10000/ 10 YEARS 5000 How many more years should the asset be retained using a One- additional year analysis? What would be the true ESL of the defender using the minimum- cost-life technique? Assuming a planning horizon of five years (making the defender and challenger equal-life alternatives) demonstrate the opportunity cost method and b.) the cash flow method of replacement analysis