Lakeland University is determining whether it should keep or replace all of the furniture in its dorm rooms. Which of the following quotes below from Lakeland's CFO is correct as to

how Lakeland should analyze costs in this situation.

Multiple Choice

"We're able to take advantage of a great deal now by purchasing furniture from a company going out of business. I don't think we'll have this opportunity again in the future.

We should take this into consideration when making our decision."

$"$If we spend the money this year to replace all the furniture, then we wouldn't have enough funds to replace the computers in our computer labs. However, computers and

furniture are two different types of assets, so we shouldn't take this opportunity cost into consideration when making our decision."

"The periodic depreciation expense on the current furniture is much lower than normal. We should take this into consideration when making our decision."

$"$We paid a lot of money for our current furniture. I know the current furniture is not meeting the needs for our students, but the large price we paid for them needs to factor

into our decision."