Sheridan Company has a machine that affixes labels to bottles. The machine has a book value of $$91,200$ and a remaining useful life of $3$ years and no salvage value. A new, more efficient machine is available at a cost of $$342,000$ that will have a $3-$year useful life with no salvage value. The new machine will lower annual variable production costs from $$592,800$ to $$467,400.$

Prepare an analysis showing whether the old machine should be retained or replaced. $($Enter negative amounts using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$