You're a taxi cab driver and you are sick of paying so much money for fuel....

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You're a taxi cab driver and you are sick of paying so much money for fuel. You might replace your vehicle with a newer, more fuel efficient model. Projected Yearly Revenues from Cab Fares REQUIRED: $110,000 Cost of Current Vehicle $55,000 Cost of New Vehicle $45,000 Accumulated Depreciation on Current Vehicle $15,000 Estimated Salvage Value of Current Vehicle (Now) $12,500 Estimated Salvage Value of Current Vehicle (5 Years) $2,000 $9,000 5 $10,000 $6,500 Estimated Salvage Value of New Vehicle (5 Years) Total Years for Analysis Annual Operating Costs of Current Vehicle Annual Operating Costs of New Vehicle Should you upgrade to the new model? For simplicity, we won't do any time value of money computations in this. You're a taxi cab driver and you are sick of paying so much money for fuel. You might replace your vehicle with a newer, more fuel efficient model. Projected Yearly Revenues from Cab Fares REQUIRED: $110,000 Cost of Current Vehicle $55,000 Cost of New Vehicle $45,000 Accumulated Depreciation on Current Vehicle $15,000 Estimated Salvage Value of Current Vehicle (Now) $12,500 Estimated Salvage Value of Current Vehicle (5 Years) $2,000 $9,000 5 $10,000 $6,500 Estimated Salvage Value of New Vehicle (5 Years) Total Years for Analysis Annual Operating Costs of Current Vehicle Annual Operating Costs of New Vehicle Should you upgrade to the new model? For simplicity, we won't do any time value of money computations in this.