SOLVE ALL TABLES BELOW USING ONLY EXCEL. SHOW ALL YOUR FORMULAS USED AND STEPS BELOW. MANY THANKS.

Question:

(a) What is the new assets economic life?

(b) When, if at all, should we replace the existing asset with the new asset?

13-30 Year, N 1 2 3 4 MC EUAC Challenger (if kept Defender Nyears) 3000 $6,500 3150 4150 3400 3200 3800 3100 4250 3150 4950 3400 5 6 Challenger's Min Cost Life When (if at all) should replacement occur