Please explain calculations used in excel, understanding the excel formulas is what I am having trouble with. Thanks!

Check my work mode : This shows what is correct or incorrect for the work you have completed so fa U7 Part 2 of 2 Required information State-of-the-art digital imaging equipment purchased 2 years ago for $50,000 had an expected useful life of 5 years and a $5000 salvage value. After its poor installation performance, it was upgraded for $20,000 1 year ago. Increased demand now requires another upgrade for an additional $22,000 so that it can be used for three more years. Its new annual operating cost will be $25,000 with a $14,500 salvage after the 3 years. Alternatively, it can be replaced with new equipment costing $65,500, an estimated AOC of $16,500, and an expected salvage of $25,500 after 3 years. If replaced now, the existing equipment can be traded for only $5,500. Use a MARR of 9% per year. 10 points Based on the poor experience with the current equipment, assume the person conducting the analysis decides the challenger may be kept for only 2 years, not three, with the same AOC and salvage estimates for the 2 years. What is the decision? The company should retain defender