The president's executive jet is not fully utilized. You judge that its use by other officers would increase direct operating costs by only $30,000 a year and would save $100,000 a year tif atrifte bitls. On the other hand, you believe that with the increased use the company will need to replace the jet at the end of three years rather than fouc. A new jet costs $120 milion and (at its current low rate of use) has a life of Seven years. Assume that the company does not pay taxes. All cash flows are forecasted in real terms. The real opportunity cost of capital is 8%. 0. Calculate the equivalent. annual cost of a new jet (Do not round intermediote colculations, Enter your answer in dollors not in millions. Round your answer to 2 decimal places. Enter your answer os o positive value.) b. Enlcutate the present valte of the additional cost of ceplacing the iet one vear earlier than under its current usage. (Do not round intermedlate calculations. Enter your answer in dollors not in millions. Round your answer to 2 decimal places. Enter your onswer as o positive value.) c. Calculate the present value of the savings. (Do not round intermediate calculations. Enter your onswer in dollars not in militons. found your answerto? decimal plocesi) d. Should you try to persuade the president to allow other officers to use the plane