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expertSalim Service company owns several taxis that were purchased four years ago for $ 2 1 0 0 0 each. The current market value is

expertSalim Service company owns several taxis that were purchased four years ago for $21000 each. The current market value is $12000 each. If they are kept for another 8 years, they can be sold for $2000 each. The annual maintenance cost per cab is $1000 a year. Salim Service is looking at replacing the cabs with the option to lease new cabs at an annual cost of $9000 per year per cab which includes free maintenance. How much more would it cost them per year to switch to leasing? Assume an interest rate of 10%.
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