Ivanhoe Roofing is taced with a decision The company relles very heavily on the use of its $60-$foot extension lift for work on large homes and commercial properties Last year, Ivanhoe Roofing spent $$74,400$ refurbishing the lift. It has just determined that another $$41,500$ of repair work is required. Alternatively, ithas found a newer used lift that is for sale for $$177,000.$ The company estimates that both lifts would have useful lives of $6$ years. The new litt is more efficient and thus would reduce operating expenses by about $$24,800$ per year. Ivanhoe Roofing could also rent out the new lift for about $$10,500$ per year. The old lift is not sultable for rental. The old lift could currently be sold for $$26,000$ if the new lift is purchased.

Prepare an incremental analysis showing whether the company should repait or replace the equipment. $($Enter negothe amounts using either a negathe sim preceding the number eg $-45$ or parentheses es $(45))$

Should company repair or replace the equipment?

The equipment be replaced.