$91,700 $101,000 Initial investment (CF) Year (t) 1 $65,600 Cash inflows (CFt) $10,900 20,000 31,000 39,400 2 $12,400 12,400 12,400 12,400 12,400 12,400 3 $29,100 29,100 29,100 29,100 29,100 4 5 6 a. Calculate the NPV for each machine over its life. Rank the machines in descending order on the basis of NPV. b. Use the annualized net present value (ANPV) approach to evaluate and rank the machines in descending order on the basis of ANPV. c. Compare and contrast your findings in parts (a) and (b). Which machine would you recommend that the firm acquire? $91,700 $101,000 Initial investment (CF) Year (t) 1 $65,600 Cash inflows (CFt) $10,900 20,000 31,000 39,400 2 $12,400 12,400 12,400 12,400 12,400 12,400 3 $29,100 29,100 29,100 29,100 29,100 4 5 6 a. Calculate the NPV for each machine over its life. Rank the machines in descending order on the basis of NPV. b. Use the annualized net present value (ANPV) approach to evaluate and rank the machines in descending order on the basis of ANPV. c. Compare and contrast your findings in parts (a) and (b). Which machine would you recommend that the firm acquire