Philpot Company paid P73,000 to purchase a machine on January 1, 2015. During 2017, a technological breakthrough resulted to the development of a new machine that costs P120,000. The old machine costs P41,000 per year to operate, but the new machine could be operated for only P12,000 per year. The new machine, which will be available for delivery on January 1, 2018 has an expected useful life of four years. The old machine is more durable and is expected to have a remaining useful life of four years. The current market value of the old machine is P30,000. The expected salvage value of both machine is zero. Based on this information, recommend whether or not to replace the machine. Support your recommendation with appropriate computations