Concord Corporation is considering the replacement of a piece of equipment with a newer model. The following data has been collected: If the old equipment is replaced now, it can be sold for $60000. Both the old equipment's remaining useful life and the new equipment's useful life is 5 years. Both assets have a $0 end-of-life salvage value. What is the cost of the new equipment? $380000$80000$160000$320000