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A manufacturer of cans and packaging for the food industry is considering the replacement of some of its current production equipment. A new plan is to install equipment in an existing plant facility to produce a new two-piece, thin-steel container that consumes less energy and metal than the conventional three-piece soldered cans. The equipment presently in operation was installed 5 years ago at a cost of $100.000 and can presently be sold for $35.000. Because of the rapid obsolescence of production equipment as customers switch to lighter, more economical containers, the future salvage value of the present equipment is expected to decline by $4.000 a year. If the present equipment is retained one more year, its operating costs are expected to be $65.000, with increases of $3.000 a year thereafter. The new equipment will cost $130.000 installed. Its economic life is predicted to be 8 years with salvage value of $10.000. Annual operating disbursements will be $49.000. If the firm's MARR is 15%, make a recommendation as to the desirability of installing the new equipment. Assume there is no knowledge of possible future replacements and indicates the study period