.75 HII View Policies Current Attempt in Progress Hillsong Inc manufactures snowsuits. Hillsong is considering purchasing a new sewing machine at a cost of $245 million. Itsedsting machine was purchased five years ago at a price of $1.8 million six months ago Hillsong spent $55,000 to keep it operational The existing sewing machine can be sold today for $250,000. The new sewing machine would require a one-time, $85,000 training cost. Operating costs would decrease by the following amounts for years 1 to 7 Year 1 2 3 4 5 $390,000 400,000 411.000 426,000 434,000 435.000 436,000 7 The new sewing machine would be depreciated according to the declining-balance method at a rate of 20%. The salvage values expected to be $400,000. This new equipment would require maintenance costs of $100.000 at the end of the fifth year. The cost of capitalis 9% Click here to view the factor table The new sewing machine would be depreciated according to the declining balance method at a rate of 20%. The salvage value is expected to be $400,000. This new equipment would require maintenance costs of $100.000 at the end of the fifth year. The cost of capital is 9% Click here to view the factor table. Use the net present value method to determine the following: Of net present value is negative then enter with negative sin preceding the number eg.-45 or parentheses eg. (45). Round present value answer to decimal places, es 125. For calculation purposes, use 5 decimal places as displayed in the factor table provided) Calculate the net present value. Net present value $ Determine whether Hillsong should purchase the new machine to replace the existing machine