A forklift will only last 4 more years. It costs $6,900 a year to maintain. For $24,000 you can buy a new lift that can last for 12 years and only requires $3,900 per year in maintenance costs.

 a-1. Calculate the equivalent cost of owning and operating the forklift if the discount rate is 5% per year. (Do not round up intermediate calculations. Round your answer to 2 decimal places.) 

b-1. Calculate the equivalent cost of owning and operating the forklift if the discount rate is 13% per year. (Do not round intermediate calculations. Round your answer to 2 decimal places.)