A manager of a manufacturer is considering whether to keep or replace an old machine: Old Machine New Machine Original Cost $24,000 $10,000 Accumulated Depreciation $ 9,000 not applicable -not yet acquired Useful Life 8 years 5 years Current Age 3 years O years Remaining useful life 5 years 5 years Current disposal value (FMV) $6,000 not applicable - not yet acquired Disposal value in 5 years $1,000 $0 Annual operating expenses $10,000 $8,000 Ignore taxes and the net present value of money. Depreciation is straight-lined. Instructions a) Identify only the relevant costs. b) How much will they save (or how much more will it cost) if they replace the old machine? c) Name the 3 major factors that influence supply and demand discussed in class and in the textbook