7. Problem 8-38 Replacement Decision (LO5) 10 points A forklift will last for only 4 more years. It costs $5,900 a year to maintain. For $22,000 you can buy a new lift that can last for 10 years and should require maintenance costs of only $2,900 a year. eBook a 1. Calculate the equivalent cost of owning and operating the forklift if the discount rate is 4% per year. (Do not round intermediate calculations. Round your answer to 2 decimal places.) a-2. Should you replace the forklift? b-1. Calculate the equivalent cost of owning and operating the forklift if the discount rate is 15% per year. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b-2. Should you replace the forklift? Print References a-1. Equivalent cost a-2. Should you replace the forklift? b-1. Equivalent cost b-2. Should you replace the forklift