Required information [The following information applies to the questions displayed below] Each of the following situations is independent: Asset Replacement An uninsured boat costing $92,400 was wrecked the first day it was used. It can be either sold as is for $9,240 cash and replaced with a similar boat costing $95,600 or rebuilt for $77,400 and be brand new as for as operating charocteristics and looks are concerned. Required: What is the difference in cost between the two options? Based on financial considerations, what should the company do? Sell as-is for $9,240 cash and replace with a similar boat costin $95,600 Rebuild for $77,400