An electronic firm is currently manufacturing an item that has a variable cost of $0.6 per unit and a selling price of $1.10 per unit. Fixed costs are $ 15,500. Current volume is 32,000 units. The firm can substantially improve the product quality by adding a new piece of equipment at an additional fixed cost of $ 8,000. Variable cost would increase to $0.70, but volume should jump to 50,000 units due to a higher quality product. Should the company buy the new equipment?