Question 13 Sew It Inc. has an industrial sewing machine hat it has used for the past 5 years. The company is onsidering replacing the machine with a faster model as it is tarting to break down more often. As it will be faster and eliminate overtime, it will increase revenues by $4,300 per ear over its useful life of 7 years. Current Machine New Machine Original purchase cost Accumulated depreciation $28,800 $25,300 $22,900 Useful life 7 years 7 years used for he remainder of its useful life, the current sewing machine would have zero salvage value If sold now, the current sewing machine would have a salvage value of $5,200. If it The new sewing machine is expected to have zero salvage value after 7 years Determine whether the current sewing machine should be replaced. (Ignore the time value of