11. Swamp & Southern Railroad is considering the replacement of an old refrigerator boxcar with a new one. The following data is provided: Old Boxcar New Boxcar Book Value $40,000 n/a New Boxcar Purchase Cost n/a $310,000 Annual operating costs $82,000 $40,000 Useful Life 7 years 7 years Residual Value zero zero If the old boxcar is replaced, it can be sold for $28,000. Calculate the total effect on Net Income for seven years if the old boxcar is replaced by the new boxcar