The law rm of Cullumber and Ivanhoe relies heavily on a colour laser printer to process its paperwork. Recently the printer has not functioned well and print jobs were not being processed A major overhaul costing $13,200 would make the current printer work properly for the balance of its useful life. Management is considering updating the printer with a faster model. Current Printer New Model Original purchase cost $32,000 $25,600 Accumulated depreciation 18,400 Estimated operating costs (annual) 3,000 2,200 Useful life 5 years 5 years If sold now, the current printer would have a salvage value of $3,100. If operated for the remainder of its useful life, the current printer would have zero salvage value The new printer is expected to have zero salvage value after 5 years. Prepare an analysis to show whether the company should retain or replace the printer. (lf an amount reduces the net income then enter with a negative sign preceding the number, eg. -15,000 or parenthesis, eg. (15,000).) Prepare an analysis to show whether the company should retain or replace the printer. (If an amount reduces the net income then enter with a negative sign preceding the number, e.g. -15,000 or parenthesis, e.g. (15,000).) Net Income Keep Printer Replace Printer Increase (Decrease) Period of 5 years Variable costs to to to Major overhaul Salvage value New machine cost $ $ $ The company should the printer