Bonita Industries is considering the replacement of a piece of equipment with a newer model. The following data has been collected Old Equipment New Equiment Purchase price $295000 $480000 Accumulated 118000 -0- depreciation Annual operating 387000 303000 costs If the old equipment is replaced now, it can be sold for $79600. Both the old equipment's remaining useful life and the new equipment's useful life is 5 years. What is the net cost of the new equipment? O $480000 O $92000 O $396000 O $185000