Please do the problem manually. No excel

11.30 A presently owned machine has the projected mar- ket value and M&O costs shown below. An outside vendor of services has offered to provide the service of the existing machine at a fixed price per year. If the presently owned machine is replaced now, the cost of the fixed-price contract will be $33,000 per year. If the presently owned machine is replaced next year or any time after that, the contract price will be $35,000 per year. Determine if and when the defender should be replaced with the outside ven- dor using an interest rate of 10% per year,Assume used equipment similar to the defender will always be available, but that the current equipment will not be retained more than three additional years M&O Cost, $per Retention Year Market Value, $ 32,000 25,000 14,000 10,000 8,000 0 24,000 25,000 26,000 4