Granfield Company has a piece of manufacturing equipment with a book value of $44,000 and a remaining useful life of four years. At the end of the four years the equipment will have a zero-salvage value. Granfield can purchase new equipment for $144,000 and receive $25,200 In return for trading in its current equipment. The current equipment has variable manufacturing costs of $47,000 per year. The new equipment will reduce variable manufacturing costs by $23,000 per year over its four-year life. The total increase or decrease in ncome by replacing the current equipment with the new equipment is: Multiple Choice $26,800 $92,000 $17,200 d $62,800 $26,800