A 50 hp electric motor is powering a pump that operates for 8 hours a day for 360 days/year. For an industrial electrical rate of $0.045/kW-hr and a motor efficiency of 90%, (a) determine the yearly electrical cost to operate this motor. (b) Is it advisable to replace the motor with a new 95% efficient unit if the replacement cost (with trade in) is $5,000? Support your answer with an engineering analysis.