[Sky] SkyHigh skydiving school needs to buy a new airplane and asked their head skydiving instructor Hugo First to research the options. He found two main contenders: The Piper plane costs $125.000 and will use $300 per week in fuel, cost $400 per month for a hangar rental, and cost $10,000 a year to insure. The Cessna plane, on the other hand, costs $180,000 and will use $200 per week in fuel, cost $300 per month for a hangar rental, and cost $9,000 a year to insure. Assuming a 50 -weck operating year and a ten-year planning horizon, which plane has the lower total lifetime cost and what is that cost? Piper: $423000 Cessno \$423.000 Cessna: $406,000 Piper, $392000 Piper: $406,000