Replace Equipment A machine with a book value of $246,400 has an estimated six-year life. A proposal is offered to sell the old machine for $217,700 and replace it with a new machine at a cost of $280, 200. The new machine has a six-year life with no residual value. The new machine would reduce annual direct labor costs from $49,900 to $39,900. Prepare a differential analysis dated October 3 on whether to continue with the old machine (Alternative 1) or replace the old machine (Alternative 2). 1 an amount is zero, enter "o". For those boxes in which you must enter subtracted or negative numbers use a minun sign. Differential Analysis Continue with Old Machine (Alt. 1) or Replace Old Machine (Alt. 2) October 3 Continue with Replace Old Differential Effect Old Machine Machine on Income (Alternative 1) (Alternative 2) (Alternative 2) Revenues Proceeds from sale of ald machines Costs: Purchase price Direct labor (6 years) Income (Loss) Should the company continue with the old machine (Alternative 1) or replace the old machine (Alternative 2)