Problem3 An engineer is trying to determine the economic life of new metal press. The press costs S15,000 initially. The estimated maintenance costs and the market values are displayed in the following table. The expected life of the press is 8 years. In addition, the minimum attractive rate of return (MARR) is 15%. End of year k maintenance cost $ 0 $ 0 S 300 $300 $ 800 S 1300 S 1800 $2300 Estimated Market value S 10000 $ 9000 $ 8000 $ 7000 $ 6000 S 5000 $ 4000 S3000 The formula of the total marginal cost at year k is : TG(%)-MV-i-MVit iMV-i +4 a) Determine for each year the total marginal cost TC. (show your calculations)