Which of the following scenarios is an example of a behavioral decision$-$making error?

LM Corporation purchases a $$750,000$ machine with an anticipated useful life of eight years. Management decides to replace the machine four years later with a machine that has lower fixed costs despite the remaining useful life.

JW Industries purchases a $$325,000$ machine to replace an old machine with one year of remaining useful life. Management sells the machine for scrap but still must write off part of its book value as a loss.

AJ Enterprises retains a machine with a book value of $$110,000$ despite anticipated repair costs of $$10,000$ this year. Management determines that the old machine has lower variable costs than a replacement.

CT Tech purchases a $$600,000$ machine and six months later a new, more efficient machine becomes available. Management does not purchase the machine because it doesn't think another purchase is warranted.