Assume that a new car always costs you $21,000 (without considering the time value). The annual operating cost and resale value of a used car are shown in the. Assume that you presently have a new car. Determine a replacement policy that minimizes your net costs of owning and operating a car for the next six years (by the end of year 6 or beginning of year 7). You are allowed to sell your car after you drive it for 1, 2, 3, 4, 5, or 6 years. Car resale data Age of car Resale value Operating Cost Original purchase price $21,000 1 $14,000 $600 2 $12,000 $1,000 3 $8,000 $1,600 4 $6,000 $2,400 5 $4,000 $3,200 6 $2,000 $4,400 At the beginning of year Origin Destination Years to keep 1 2 1 1 3 2 4 3 1 5 4 1 6 5 1 7 6 2 3 1 2 4 2 2 5 3 2 6 4 2 7 5 3 4 1 5 2 3 6 3 3 7 4 4 5 1 4 6 2 4 7 3 5 6 1 5 7 2 6 7 1 Operating cost in year of use 1 2 3 4 5 6 Resale value Purchase cost Total cost Flow Node Net outflow Required 1 2 3 4 5 6 7