You own several copiers that are currently valued at $10,000, combined. Annual operating and maintenance costs for all copiers are estimated at $9,000 next year, increasing by 10 percent each year thereafter. Salvage values decrease at a rate of 20 percent per year. You are considering replacing your existing copiers with new ones that have a suggested retail price of $25,000. Operating and maintenance costs for the new equipment will be $7,000 over the first year, increasing by 10 percent each year thereafter. The salvage value of the new equipment is well approximated by a 20 percent drop from the suggested retail price per year. Furthermore, you can get a trade-in allowance of $13,000 for your equipment if you purchase the new equipment at its suggested retail price. Your MARR is 7 percent. Should you replace your existing equipment now? Click the icon to view the table of compound interest factors for discrete compounding periods when i = 7%. The economic life of the existing equipment is year(s) with a total EAC of $ This is a total EAC than the new equipment, which has an economic life of year(s) and a total EAC of $ You replace your existing equipment now. (Round to the nearest whole number as needed.)