Question: A rent-a-car company is developing a replacement plan for its car fleet for a 5-year (20212025) planning horizon. At the start of each year, a

A rent-a-car company is developing a replacement plan for its car fleet for a 5-year (20212025) planning horizon. At the start of each year, a decision is made as to whether a car should be kept in operation or replaced. A car must be in service at least 1 year but must be replaced after 3 years. The following table provides the replacement cost as a function of the year a car is acquired and the number of years in operation. Using a network model, find the replacement policy that will minimize total cost. Replacement cost (in thousands of pesos) for given years in operation Year acquired 1 2. 3 2021 1000 2400 6800 2022 1300 3200 5700 2023 1800 4100 2024 1900

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