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Asset Replacement An uninsured boat costing $94,000 was wrecked the first day it was used....

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Asset Replacement An uninsured boat costing $94,000 was wrecked the first day it was used. It can be either sold as-is for $9,400 cash and replaced with a similar boat costing $96,000 or rebuilt for $79,000 and be brand new as far as operating characteristics and looks are concerned Required What is the difference in cost between the two options? Difference in cost Based on financial considerations, what should the company do? Sell as-is for $9,400 cash and replace with a similar boat costing $96,000 Rebuild for $79,000

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