3. Present Worth Analysis (4 points). Twenty-First Century Manufacturers are planning to acquire a new machine that will cost $8,000. The machine's estimates life is 10-years. The machine is expected to be trouble free during the first year of operation. The maintenance costs for the subsequent four years of operation are estimated at $100, $200, $300, and $400 respectively. The machine will require an overhaul halfway through its life at a cost of $2,000. The maintenance costs following the mid-life overhaul are estimated at $200 per year increasing by 10% per year through the end of the machine's life. The machine has a salvage value of $250. Compute how much Twenty-First Century Manufacturers should budget to pay for the purchase, future overhaul, and annual maintenance of the machine. The company is making its plans using an interest rate of 10% compounded annually