Problem 4 (15 marks) NT Company has a number of large trucks. One of the trucks is in poor condition and needs an immediate renovation at a cost of $200,000. An overhaul of engine will also be needed 7-years from now at a cost of $15,000. If these costs are incurred, the truck will be useful for 14 years. After 14-year period, it will be sold at a salvage value of $40,000. At this time, the salvage value of the truck is $45,000. The total annual revenues of the truck will be $350,000 and the total cost to operate the truck will be $250,000 per year. Alternatively, NT Company can purchase a new truck for $270,000. The new truck will require some repairs at the end of 7-year period at a cost of $7,000. Its salvage value will be $40,000 after its useful life of 14 years. The total annual revenues of the new truck will be $300,000 and its operating cost will be $210,000 per year. The company's required rate of return is 14% before taxes. a. Should NT Company renovate the old truck or purchase a new truck