a machine tool company has a production machine with a trade in value of $10,200. The company will not keep the machine more than 3 more years. The costs associated with the machine are shown int he table below: At the beginning of year 3, the company would be required to spend $5,200 for an upgrade in order to keep the machine for year 3. The company can acquire a new machine for $38,000 with a 7 year economic life, $9,100 salvage value after 7 years and an AOC of $20,000 with a $2,000 per year increasing gradient. The company's MARR is 12% per year. Determine when the company should replace the machine.