A company is examining the cost of some of its maintenance equipment. Its present equipment is costing $20,000 per year to operate, and an additional $5,000 expense is expected during the third year. The company estimates a salvage value of $3,500 after six years of operation. The equipment can be upgraded at a cost of $13,500 at time zero After upgrade, operating costs are expected to be $17,000 per year, with no other costs Salvage value after six years is expected to be $8,500. Determine if it is feasible to upgrade the equipment, assuming the minimum rate of return is 8% per year. Use NPV and service life breakeven analysis.