please use do no use excel. use formulas for a like

a [15 points) Chelsea Candy Co. installed a conveyor system 5 years ago at a cost of $45,000. It was estimated that the system would have a service life of 8 years with a salvage value of $800 and it is still in operating condition. If the company continues to operate the system, the system's estimated salvage values and operating costs for the next 3 years are as follows: Year Salvage value Overhaul cost O&M cost 10 $11,500 $800 1 $5,200 $2,300 12 $3,500 $1,000 $5,300 13 $1,200 $8,500 A new conveyor system can be installed for $50,500. This system would have an estimated economic life of 3 years, with an equivalent annual cost of $10,500. The company's MARR is 15%. a. What is the remaining economic service life of the old system? b. What is your decision, should the defender be replaced now? And if not, what is the cost of keeping it for one more year? c. In order to reach the conclusion in (b), what assumption(s) do you need in your replacement analysis