Please view the following video before answering this question. Click here to watch the video A company owns a 5-year-old turret lathe that has a book value of $25,000. The present market value for the lathe is $14,000. The expected decline in market value is $2,000 /year to a minimum market value of $3,600; maintenance plus operating costs for the lathe equal $4,070/ year. A new turret lathe can be purchased for $43,000 and will have an expected life of 8 years. The market value for the turret lathe is expected to equal $43,000(0.70)k at the end of year k. Annual maintenance and operating cost is expected to equal $1,850. Based on a 12% MARR, should the old lathe be replaced now? Use an equivalent uniform annual cost comparison, a planning horizon of 7 years, and the cash flow approach. EUAC for keeping old turret lathe: $ EUAC for replacing turret lathe: $ Recommendation: Click here to access the TVM Factor Table Calculator For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 52.75. The absolute cell tolerance is ±1 eTextbook and Media Attempts: 0 of 3 used