A machine purchased three years ago for $313,000 has a current book value using straight-line depreciation of $180,000; its operating expenses are $32,000 per year. A replacement machine would cost $228,000, have a useful life of eleven years, and would require $11,000 per year in operating expenses. It has an expected salvage value of $77,000 after eleven years. The current disposal value of the old machine is $88,000; if it is kept 11 more years, its residual value would be $11,000. Required Calculate the total costs in keeping the old machine and purchase a new machine. Should the old machine be replaced?