The Draper Company has an existing injection molding unit that has a current market value of $90,000 and would like to know when it should be replaced. The estimated salvage value at the end of year-1 is $55,000 and will decrease by $5,000 each year thereafter. The operating and maintenance expenses for year-1 are estimated to be S30,000 and will increase by $3,000 each year thereafter. The interest rate is 8%. Calculate the Annual Equivalent Cost (AEC) for each year to determine when to replace to the equipment. When should the equipment be replaced