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A hardware company is considering replacing an old, fully depreciated power machine. Two options are available: 1 . An electric-powered machine (Project E), which has an initial cost of $360,000, a 6-year life, and expected after-tax cash flows of $102,000 per year; 2. A gaspowered machine (Project G), with an initial cost of $190,000, a 3-year expected life, and expected after-tax cash flows of $90,000 per year, and Assume that the company's cost of capital is 14%. a. Would you recommend the company replace the old machine? Please conduct a quantitative analysis to answer this question. b. If so, which new machine should it choose? [Hint: Use the common life approach and the EAA approach]