Economic Service Life When determining the economic service life of a new piece of equipment, an engineer made the calculations below; however, the annual worth of the salvage value for 2 years of retention was omitted. Complete the analysis by determining the following to make the ESL equal 2 years: (a) minimum AW of the salvage value; (b) estimated salvage value that would produce the AW calculated in part (a) at 10% per year. (Note: Values in the table are AW values, not individual year-end values.) Years Retalned AW of First Cost, $ 88,000 46,095 32,169 25,238 21,104 AW of Operating Cost,$ -45,000 -46,000 51,000 -59.000 70,000 AW of Salvage Value, $ 50,000 6,042 3,232 1,638 4