Franklin Company is considering the replacement of some of its manufactung equipment Information regarding the existing equipment and the potential replacement equipment follows Existint Equipment Renlacement Equipment 5119,000 $114.000 Operating expenses 105,000 Operating expenses 112.000 Salvage value 22,000 Salvage value 16.000 Market value 43,00 Useful life 7 years Bonk value 34.000 Remaining useful life 7 years Cost Cost The amounts shown for operating expenses are the cumulative total of all such expected expenses to be incurred over the useful ire of the equipment Required Caiculate the total relevant cost of existing equipment and the potential replacement equipment should the equipment be replaced? Old New Total cost Should the equipment be replaced