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Asset Replacement An uninsured boat costing $91,400 was wrecked the first day it was used....

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Accounting

Asset Replacement An uninsured boat costing $91,400 was wrecked the first day it was used. It can be either sold as-is for $9,140 cash and replaced with a similar boat costing $94,100 or rebuilt for $76,400 and be brand new as far as operating characteristics and looks are concerned.

1.) What is the difference in cost between the two options?

2.) Based on financial considerations, what should the company do?

multiple choice:

A.) Sell as-is for $9,140 cash and replace with a similar boat costing $94,100.

B.) Rebuild for $76,400.

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