John Paul, president of J.P. Hudik Boat Hauling, is consdiering replacing the company's industrial lift used to haul boats. The new lift would allow the compnay to lift larger boats out fo the water Information about the old lift: Cost $94000 Estimated useful life 12 years Estimated salvage vlaue $10,000 Current age 4 years Estimated current fair value $48000 Annual contribution margin $50,000 Information about the new lift: Cost $128000 Estimated useful life 8 years Esiatmated salvage vlaue $25,000 Annual contribution margin $65000 The benefit of keeping the old lift