Delta Corporation is considering replacing a machine that is presently used in its production process. The following information is available: Original cost Remaining useful life in years Current age in years Book value Current disposal value in cash Future disposal value in cash (in five years) Annual cash operating costs Old Machine $45,000 5 5 $25,000 $8,000 New Machine $35,000 5 0 N/A N/A $0 $ 7,000 $0 $ 4,000 Required: 1) Which of the data provided in the table are relevant to the decision? 2) Which of the data provided is a sunk cost? 3) What is the total amount of the relevant costs for keeping the old machine? 4) What decision should be made with regard to keeping the old machine or replacing it? What is the total difference in costs in the option chosen