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Last year (2017), Richter Condos installed a mechanized elevator for its tenants. The owner of...

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Accounting

Last year (2017), Richter Condos installed a mechanized elevator for its tenants. The owner of the company, Ron Richter, recently returned from an industry equipment exhibition where he watched a computerized elevator demonstration. He was impressed with the elevator's speed, the comfort of the ride, and cost efficiency. Upon returning from the exhibition, he asked his purchasing agent to collect price and operating cost data on the new elevator. In addition, he asked the company's accountant to provide him with cost data on the company's elevator. This information is presented below.
\table[[,Old Elevator, New Elevator ?()
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