Granfield Company has a plece of manufacturing equipment with a book value of $49.000 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 $174,000 and receive $29,200 in return for trading in its current equipment. The current equipment has variable manufacturing costs of $57,000 per year. The new equipment will reduce variable manufacturing costs by $28,000 per year over its four-year life. The total increase or decrease in income by replacing the current equipment with the new equipment is: Multiple Choice $32,800 increase ( ) $16,200 decrease $112.000 increase $76,300 increase $32.800 decrease