8. A project requires equipment that has a 3 year physical life. However, it may be optimal to run the project for 3 years, 2 years, 1 year, or not at all. In other words, the project may have an economic life different from its physical life. Using the Operating Cash Flow and Salvage Value estimates below, along with a 10% cost of capital, determine the Economic Life of the following project: Year 0 Initial Investment and Operating Cash Flows (5,000) 1,600 2,500 2,000 End of Year Salvage Value 5,000 3,500 2,000