you are a financial manager at a 1,500 room hotel in New York. Suppose your hotels laundry system is working fine, but you are considering an upgrade to a more efficient system. The existing laundry facility has another 3 years of expected life and net annual costs are $1,650,000. The proposed system costs $2,000,000, has 4 years of expected life and costs $700,000 to run annually. What technique should you use to answer this question? Ensure to test the assumption to ensure they hold. Which system should you choose if your hotels cost of capital is 10%?