questions 6 and 7 please

6.(2 points) Determine the economic life of an $900 laptop computer. Your personal interest rate is 12% per year. Annual expenses and year-end resale values are expected to be the following: Software upgrades and maintenance Resale value at end of year Year 1 $250 $700 Year 2 $300 $550 Year 3 $400 $300 7.(2 points) An $90,000 baling machine for recycled paper was purchased by the XYZ company two years ago. The current MV of the machine is $60,000, and it can be kept in service for seven more years. MARR is 15% per year and the projected net annual receipts (revenues less expenses) and end-of-year market values for the machine are shown below. When is the best time for the company to abandon this project? 1 $30,000 2 $30,000 3 $28,000 End of Year 4 $25,000 5 $22,000 6 7 $16,000 $13,000 Net annual receipts Market value $50,000 $42,000 $35,000 $30,000 $25,000 $20,000 $15,000