FHI is considering replacing the equipment it currently uses to manufacturing it planes. It could purchase replacement requirement for $$570,000$ that has an expected useful life of four years and a salvage value of $$58,000.$ The new equipment would increase productivity substantially, reducing unit$-$level labor costs by $20$ percent.Assume that FHI would maintain its production and sales at $6,800$ planes per year.Prepare a schedule that shows the relevant costs of operating the old equipment versus cost of operating the new equipment. Should FHI replace the equipment?

Relevant Cost Comparison

Old equipment new equipment

Cost of new equipment $($correct$)$ Answer is $0$ Answer is $512\mathrm{.}000$

Unit$-$level labor costs $($correct$)$ Answer is $1,904,000$ Answer is $1,523,000$

Opportunity to lease the old equipment $($correct$)$ Can$$t figure out the answer, need help with the answer, Answer is $0$

Total relevant costs Answer is $2,035,200$