3) Blue Manufacturing Company is trying to decide whether to trade in equipment used in its manufacturing process for a newer model. The new equipment will save money because it will be more efficient to use. Indicate if the following items are relevant or irrelevant to this decision Item Relevant or Irrelevant The price of the new equipment The price paid for the old equipment The trade in value of the old equipment The repair costs that will be incurred if the old equipment is kept The expected cost savings of the new equipment The costs that have been incurred on the old equipment sheerne berwen a price seter and a rie-aker