Fanning Freight Company owns a truck that cost $40,000. Currently, the truck's book value is $22,000, and its expected remaining useful life is five years. Fanning has the opportunity to purchase for $24,000 a replacement truck that is extremely fuel efficient. Fuel cost for the old truck is expected to be $6,100 per year more than fuel cost for the new truck. The old truck is paid for but, in spite of being in good condition, can be sold for only $15,000. Required Calculate the total relevant costs. Should Fanning replace the old truck with the new fuel-efficient model, or should it continue to use the old truck until it wears out? Keep Old Replace With Now Total relevant costs $ 30,500 $ 9,000 Should Fanning replace or continue the old truck? Replace the old truck.