A new machine will cost $250,000. The expected market value of the machine at the end of each year, and the annual maintenance costs are given in the table below. Assuming 11% cost of capital, what is the economic life of the machine? Clearly answer the question. (Hint: construct a table similar to Example 9-4 in the textbook.) Year Market Annual Value at Maintenance the End Cost t 250,000 1 223,000 27,000 2 200,000 27,000 3 180,000 28,000 162,000 30,000 145,000 34,000 132,000 42,000 7 122,000 58,000 8 113,000 90,000 USE EXCEL FOR CALCULATING 4-