Question 3: A new piece of equipment in a refinery costs $45 000 and depreciates at 20% annually. The maintenance costs are $3 000 in the first year, doubles each year the equipment is in use. Given a MARR of 6%, calculate the EAC over the first three years of the equipment's life. What is the economic life of the equipment? Construct a spreadsheet that has the following headings: Year, Salvage Value, EAC(capital), EAC(maintenance), and EAC(total)