An existing asset is expected to last five years. The de current asset are shown below with those o challenger. The defender has zero salvag year. Interest is 15% per year. Use the on technique to determine when (beginning of what year)the r asset would be chosen, if at all. tails of the t a possible replacement e value at the end of the fifth e-additional-year analysis eplacement NEXT FIVE YEARS FOR CURRENTLY ORNED ASSET VALUE AT ADDITIONAL YEARS ANNUAL OPERATINGI COST BEGINNING REPLACEMENT ASSET OF YEAR $45000 $30000 24000 17000 7000 2000 $25000I FIRST COST 20000 1 OPERATING COST 10000/yr 20000 I LIFE 20000 I SALVAGE VALU 20000 I 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? 2. Assuming a planning horizon of five years (making the defender and challenger equal-life alternatives) demonstrate a.)the opportunity cost method and b.) the cash flow method of replacement analysis