Northwest Aerocomposite manufactures fibreglass and carbon fibre fairings. Its largest water-jet cutter will have to be replaced some time before the end of four years. The old cutter is currently worth $48,000. Other cost data for the current and replacement cutters can be found in the tables that follow. The MARR is 16 percent. What is the economic life of the new cutter, and what is the equivalent annual cost for that life? When should the new cutter replace the old? Click the icon to view the tables of salvage values and maintenance costs for the defender and the challenger. = Click the icon to view the table of compound interest factors for discrete compounding periods when i = 16%. The economic life of the new cutter is years. The old cutter should be (Type a whole number.)