A piece of equipment that was purchased for $25,000 five years ago has a current book value of $6,000. This equipment can currently be sold for $ 5,000. This equipment can provide service for another two years with an operating and maintenance cost of $10,000 per year and it can be sold for $500 at the end of two years from now. Since the study period is 5 years, it is proposed that if the old machine is kept now, the work will be outsourced for the last three years at a cost of $15,000 per year paid at the beginning of each of the last three years. A new piece of equipment is available in the market for $40,000. The annual operating and maintenance cost is expected to be only $4,000 per year. The salvage value at the end of the study period of 5 years is expected to be $5,000. If the before-tax MARR is 10% per year compounded yearly, which option should the company select?