Jones Industries is considering the replacement of a piece of equipment with a newer model. The following data has been collected: Purchase price Accumulated depreciation Old Equipment $162,000 64,800 Annual operating costs 216,000 New Equipment $272,000 - O- 189,000 If the old equipment is replaced now, it can be sold for $44,500. Both the old equipment's remaining useful life and the new equipment's useful life is 5 years. The company uses straight-line depreciation with a zero-salvage value for all of its assets. The net income (loss) of replacing the old equipment with the new equipment is what? Show your work.