Johnson is trying to decide whether he should keep his presently owned car or purchase a more environmentally friendly hybrid. A new car will cost $28,000 and have annual operation and maintenance costs of $1000 per year with an $8000 salvage value in 6 years (which is its estimated economic service life). The presently owned car has a resale value now of $6000; one year from now it will be $4000, two years from now $3000, and 3 years from now$2600. Its operating cost is expected to be $1800 this year, with costs increasing by $200 per year. The presently owned car will definitely not be kept longer than 3 more years. Assuming used cars like the one presently owned will always be available, should the presently owned car be sold now, 1 year from now, 2 years from now, or 3 years from now? Use annual worth calculations at i = 20% per year and show your work. (Show every setup, not just given a numerical answer neither using spreadsheet! )