Mead Company is considering the replacement of some of its manufacturing equipment. Information regarding the existing equipment and the potential replacement equipment follows.%0D%0A%0D%0AExisting Equipment%09Replacement Equipment%0D%0AHistorical cost%09$ 300,000%09 %09Market price%09$ 250,000%09 %0D%0AOperating expenses*%09240,000%09 %09Operating expenses*%09160,000%09 %0D%0ASalvage value%0940,000%09 %09Salvage value%0940,000%09 %0D%0AMarket value%09120,000%09 %09Useful life%098%09years%0D%0ABook value%0990,000%09 %09 %09 %09 %0D%0ARemaining useful life%098%09years%09 %09 %09 %0D%0A*The amounts shown for operating expenses are the cumulative total of all such expected expenses to be incurred over the useful life of the equipment.%0D%0A%0D%0ARequired%0D%0ACalculate the total relevant cost of existing equipment and the potential replacement equipment. Should the equipment be replaced