Required information The following information applies to the questions displayed below.) Each of the following situations is independent: Asset Replacement An uninsured boat costing $105,000 was wrecked the first day it was used. It can be either sold as-is for $10,500 cash and replaced with a similar boat costing $107,000 or rebuilt for $90,000 and be brand new as far as operating characteristics and looks are concerned. Required: What is the difference in cost between the two options? Difference in cost Based on financial considerations, what should the company do? O Sell as-is for $10.500 cash and replace with a similar boat costing $107.000 O Rebuild for $90,000