A manufacturing unit in a facility is thinking of purchasing automatic lathes that could save ($ 67,000)

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A manufacturing unit in a facility is thinking of purchasing automatic lathes that could save \(\$ 67,000\) per year on labor and scrap. This lathe has an expected life of 5 years and no market value. If the company tells the manufacturing units that it is expecting to see a \(15 \%\) ROI per year, how much could be justified now for the purchase of this lathe? Explain it from the manufacturing unit's perspective.

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