Old Asset having 0 life and need $32 for repair and life can increased to 8 years.New Asset can purchase $550 with 28 years life. Your decision?

As per my decision I would consider weather the productivity outcasts the new investment or not because old technology can tend to more maintenance expenditure and new asset can be more productive and efficient.

Whereas if both are same as per prouctivity and time, then the decision to renovate old asset is worthwhile.

In my openion its answer should be given by professionally

If we compare the Annual equal cost of each options then I suggest for repair the asset

Period  Cash Flow  Pv at10% commulative      Annual Equal Cost    Decision Rank

1-8            32                 5.33                                   6                                      1

1-28         550                9.31                                   59                                     2