A commercial oven with a book value of $53,120 has an estimated remaining 5 year life. A proposal is offered to sell the oven for $16,600 and replace it with a new oven costing $94,860. The new machine has a 5-year life with no residual value. The new machine would reduce annual maintenance costs by $18,240.

Provide a differential analysis on the proposal to replace the commercial oven.

Annual maintenance cost reduction	$fill in the blank 1
Number of years applicable	fill in the blank 2
Total differential decrease in cost	$fill in the blank 3
Proceeds from sale of equipment	fill in the blank 4	$fill in the blank 5
Cost of new equipment		fill in the blank 6
Net differential decrease in cost from replacing equipment		$fill in the blank 7