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a Hephzibah Limited is just about to buy a new textile machine for GHS100,000. Although its maximum working life will be only five years such a machine features in the company's long-term plans, and is expected to produce a constant (year-end) for this machine have been estimated to be as follows. Year 0 1 2 3 4 5 GHS GHS GHS GHS GHS GHS Initial outlay 100,000 17,000 Operational costs 30,000 20,000 23,000 26.000 3,000 Maintenance 10,000 5,000 7,000 9.000 60,000 45.000 Scrap value 10,000 30,000 20.000 Required Calculate the optimum time for the replacement of the textile machine, assuming the costs of capital to be 8 percent