Problem 7-2 (Part Level Submission) Kokomo College is considering outsourcing grounds maintenance. In this regard, Kokomo has received a bid from Highline Grounds Maintenance for $308,700 per year. Highline states that its bid will cover all services and planting materials required to "keep Kokomo's grounds in a condition comparable to prior years." Kokomo's cost for grounds maintenance in the preceding year were $318,300, as follows: Salary of three full-time gardeners Plant materials Fertilizer Fuel Depreciation of tractor, mowers, and other miscellaneous equipment Total $203,900 80,300 10,100 11,300 12,700 $318,300 If Kokomo College outsources maintenance, it will be able to sell equipment for $27,400, and the three gardeners will be laid off (a) Analyze the 1-year financial impact of outsourcing grounds maintenance Net of outsourcing in year 1 is $