Question: Please type your answer to this question in the space below and show your work for maximum points. Be sure to indicate which part(s) of

Please type your answer to this question in the space below and show your work for maximum points. Be sure to indicate which part(s) of the question you are answering.

Gull Corp. is considering selling its old popcorn machine and replacing it with a newer one. The old machine has a book value of $5,000 and its remaining useful life is 5 years. Annual costs are $4,000. A high school is willing to buy it for $2,000. New equipment would cost $18,000 with annual operating costs of $1,500. The new machine has an estimated useful life of 5 years.

Should the machine be replaced?

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