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Lakeland University is determining whether it should keep or replace all of the computers in each of its computer labs. Which of the following quotes below from Lakeland's CFO is incorrect as to how Lakeland should analyze costs in this situation.

Multiple Choice

• "I know we paid a lot of money for our current computers, but they are not meeting the needs for our students. The price we paid for them should not factor into our decision."

• "The periodic depreciation expense on the current computers is much lower than normal. We should take this into consideration when making our decision."

• "If we spend the money this year to replace all our computers, then we wouldn't have enough funds to refurnish one of our dorm buildings. We should to take this into consideration when making our decision."

• "We're able to take advantage of a great deal now by purchasing computers from a company going out of business. I don't think we'll have this opportunity again in the future. We should take this into consideration when making our decision."