Genesis: This exercise was inspired by a failed, government program circa 2009. Essentially, the Federal Government paid $ 4500 for any vehicle, irrespective of condition, if traded in on a new vehicle if the new unit's fuel-economy rating were 4 mpg or better, relative to the trade-in. Data in fact panel # 1 were obtained from the Ford and Toyota corporate websites. Fact Panel #1 Focus Prius Two MSRP $ 16,500 $ 24,000 MPG (most favorable) 36 51 Replacement battery cost Anticipated life $ 120 6 years $ 2,800 8 years Panel # 2: usage assumptions; apply to both vehicles Panel # 2: usage assumptions; apply to both vehicles Miles driven annually 15,000 Service life 10 years Cost of gasoline $ 2.50 per gallon Panel #3: Your task Do not introduce any assumptions other than those presented on page 1. Prepare a cost/benefit analysis. Use the total cost of ownership across the entire service period as your decision rule. Make a recommendation as if you were suggesting an optimal purchase decision for a treasured family member