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On second thoughts, XYZ decides to keep the old truck. They can choose to retrofit it or not. The retrofit will cost $ 2 ,

On second thoughts, XYZ decides to keep the old truck. They can choose to retrofit it or not. The retrofit will cost $

2, 647 .

After the retrofit, the annual fuel and maintenance cost will be $

690

for the first year and increases by $

122

each year. XYZs minimum attractive rate of return is

4 % .

If XYZ will get rid of the old truck in six years, what is the total present cost of retrofit?

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