Darcy Roofing is faced with a decision. The company relies very heavily on the use of its 60-foot extension lift for work on large homes and commercial properties. Last year, Darcy Roofing spent $69,000 refurbishing the lift. It has just determined that another $33,500 of repair work is required. Alternatively, it has found a newer used lift that is for sale for $143,000. The company estimates that both lifts would have useful lives of 6 years. The new lift is more efficient and thus would reduce operating expenses by about $23,000 per year. Darcy Roofing could also rent out the new lift for about $8,500 per year. The old lift is not suitable for rental. The old lift could currently be sold for $21,000 if the new lift is purchased. Prepare an incremental analysis showing whether the company should repair or replace the equipment. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Retain Equipment Replace Equipment Net Income Increase (Decrease) Operating expenses $ 0 $ 23000 $ 23000 Repair costs 33500 0 33500 Rental revenue 0 8500 8500 New machine cost 0 14300 14300 Sale of old machine 0 21000 21000 Total cost $ 33500 $ 90500 $ 57000 Should company repair or replace the equipment? The equipment should not be replaced