$**$PLEASE HELP$**$ Jackie De Paul, the owner of Inn$-$the$-$Maples bed and breakfast, is considering replacing the industrial size washer and dryer she uses for the business. The current washer and dryer set still works but needs major repairs to extend its useful life.$$ If Jackie decides to repair the current washer and dryer set she estimates it will be usable for $10$ more years. If she purchases a new washer and dryer, they will both be usable for $10$ years but would then need to be replaced. The new washer and dryer would be more energy efficient and the washer would use considerably less water. Her analysis of the two options are shown below. $$Current Washer & DryerNew Washer & DryerPurchase cost new$$4,000$$$6,000$Remaining book value$$2,250$Repairs needed now$$2,000$Annual cash operating costs$$1,500$$$1,100$Salvage value now$$500$Salvage value $10$ years from now$$0$$$1,000$ Jackie computes depreciation on a straight$-$line basis. All equipment purchases are evaluated using an $8\%$ discount rate. Required: $($Ignore income taxes.$)1-$a$.$ Determine the present value of net cash flows for the options below using the total$-$cost approach: $($Hint:$$Use Microsoft Excel to calculate the discount factor$($s$).)-$Purchase a new washer and dryer. $-$Repair the existing units. $2.$ Using the incremental$-$cost approach, determine the net present value in favour of keeping the old units? $($Hint: Use Microsoft Excel to calculate the discount factor$($s$).)$