your firm spends $400,000 per year in regular maintenance of its equipment. due to an economic slowdown, your boss is considering forgoing these maintenance expenses for the next 3 years. if you do this, you expect you will need to spend $1.5 million in year 4 to replace failed equipment. a) what is the irr of the decision to forgo maintenance of the equipment? b) does the [traditional] irr rule work for this decision? for what costs of capital is forgoing maintenance a good decision?