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Asset Replacement An uninsured boat costing $93,400 was wrecked the first day it was used. It can be either sold as-is for $9,340 cash and

Asset Replacement An uninsured boat costing $93,400 was wrecked the first day it was used. It can be either sold as-is for $9,340 cash and replaced with a similar boat costing $97,100 or rebuilt for $78,400 and be brand new as far as operating characteristics and looks are concerned.

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What is the difference in cost between the two options?

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