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Repeat question 2, but assume that Ocean Carriers sells the ship when it is 15 rather than scrap it. What price can the carrier

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Repeat question 2, but assume that Ocean Carriers sells the ship when it is 15 rather than scrap it. What price can the carrier be sold for when it is 15 years old? (Assume the buyer will have to pay for the Special Survey for 2017, but will operate the carrier until it is 25 years old, then scrap it. The buyer also has a tax rate of 0%.) Compare the sale price to the scrap value at this time (i.e. when the carrier is 15 years old) and conclude whether selling or scrapping the carrier when it is 15 years old is preferable for Ocean Carriers. What is the NPV (at time 0) of all the cash flows to Ocean Carriers if it decides to sell the carrier when it is 15 years old? How does it compare to the NPV you calculated in question 3?

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