You are considering whether to replace an existing flow meter. The existing meter can be sold now for $$50$ or it

can be sold in $1$ year for $$10.$ It costs $$30$ per year to operate and maintain. A new meter costs $$400$ and has a

$10-$year life. It could be sold for $$40$ at the end of its life. The new meter costs $$14$ per year to operate and

maintain. What do you recommend if the cost of capital is $12\%?$