Pleqse answer both parts to problem. Thank you!

Problem 14 Paul Smith is considering replacing Jones \& Smith's present dishwasher with a new energyefficient model. Although the old dishwasher has a present book value of $1,000, its current market value is $2,000 and, if held for five more years, this would drop to $300. If Paul the present dishwasher. The following is a ximately $500 of repairs must be performed on option over the next five years. The new machine would cost $7,000 and is expected to have a salvage value of $2,000 at the end of five years. Required: 1. Which costs are irrelevant? 2. Which alternative should Paul choose? Support your decision with only relevant numbers. Problem 14 Paul Smith is considering replacing Jones \& Smith's present dishwasher with a new energyefficient model. Although the old dishwasher has a present book value of $1,000, its current market value is $2,000 and, if held for five more years, this would drop to $300. If Paul the present dishwasher. The following is a ximately $500 of repairs must be performed on option over the next five years. The new machine would cost $7,000 and is expected to have a salvage value of $2,000 at the end of five years. Required: 1. Which costs are irrelevant? 2. Which alternative should Paul choose? Support your decision with only relevant numbers