Problem 20 4A (Part Level Submission Last ear (2016), Ruchter Condos installed a mechanized elevator tor its tenants. The owner of the company, Ron Richter, recendy returned trom an industry equipment exhibition where he watched a comouterized elevator demonstrated. He was impressed wth the elevator's ed comfort of ride, and oost efic ency Upon et m ng tron tne erit on, he asce his Durchasing agent to collect pnce and opera n cost data on tne ne elevator n add tion ne asked This informaton is presented below. e com anv s aocoum ant o ovde nim th cost data on the company's ele Old Elevator New Elevator Purchase price Estimeted salvage value Estimated useful ife Depredation method Annual aperating casts 5104,500 $151,000 5 years 4 years streight inc Straicht line other than depreciatian: Variable Foxed $35,500 23,200 $11,000 9,000 Annual revenues are $239,000 and selling and adminst at e expenses are $29,000 agardless of ien elevator used tf the d elevator s replaced now, at tne beginning of 2017 Richter Condos will be able to sell it for $24,700 Detarmine any gain or loss if the ald clevator is replacad