Gonld Company is considering the purchase of a new machine, whose initial outlay would be $110,000. Its expected useful life is estimated to be five years, with no salvage value.

Variable operating costs are forecasted to be $90,000 per year. The current machine has a book value of $45,000, with a remaining useful life of five years. Its disposable value now is $8,000 but would be zero at the end of five years. Variable operating costs are $115,000 per year.

Required:

Considering the five years in total, what would be the difference in profit between acquiring the new machine and retaining the old one? Ignore present value and income tax considerations.