Station WJXT is considering the replacement of its old fully depreciated sound mixer. Two new models are available. Mixer X has a cost of $216,600, a ve-year expected life, and aftertax cash ows (including the tax shield from depreciation) of $68,200 per year. Mixer Y has a cost of $345,000, a ten-year life, and aftertax cash ows (including the tax shield from depreciation) of $83,400 per year. No new technological developments are expected. The discount rate is 12 percent. Should WJXT replace the old mixer, and, if so, with X or Y? (Hint: How to compare assets with different life horizons?)