A farmer is considering the purchase of a forklift. He can choose between a new and used forklift. The new and used forklifts provide the same service so revenues can be ignored. The new forklift costs $69,300, a before-tax net return of -$7,300, life of 13 years, and a terminal value of $28,200. The used forklift costs $14,700, a before-tax net return of -$6,200, life of 10 years, and a terminal value of $9,900. Suppose that the pre-tax rate of return is 10%, the marginal tax rate is 22%, and the IRS allows him to depreciate the new and used forklift over 8 years using the straight-line method. Inflation rate is assumed to be 0. (i) What is the NPV of the new forklift? -$107,711.97 -$94,877.68 T a. C. Enter Response Here: b. d. -$88,951.69 -$40,881.35