Granfield Company has a piece of manufacturing equipment with a book value of $43,500 and a remaining useful life of four years. At the end of the four years the equipment will have a zero-salvage value. Granfield can purchase new equipment fo $141,000 and receive $24,800 in return for trading in its current equipment. The current equipment has variable manufacturing costs of $46,000 per year. The new equipment will reduce variable manufacturing costs by $22,500 per year over its four-year life. The total increase or decrease in income by replacing the current equipment with the new equipment is: $26,200 decrease $61,450 increase $17,300 decrease $90,000 increase $26,200 increase

Granfield Company has a piece of manufacturing equipment with a book value of $43,500 and a remaining useful life of four years. At the end of the four years the equipment will have a zero-salvage value. Granfield can purchase new equipment fo $141,000 and receive $24,800 in return for trading in its current equipment. The current equipment has variable manufacturing costs of $46,000 per year. The new equipment will reduce variable manufacturing costs by $22,500 per year over its four-year life. The total increase or decrease in income by replacing the current equipment with the new equipment is: $26,200 decrease $61,450 increase $17,300 decrease $90,000 increase $26,200 increase

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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