A firm is considering replacing an existing hoist with a new hoist N. the existing host is 5 years old, cost $32000 and it has 3 years left of operation.it is depreciated under a straight line method over 8 years recovery period. hoist N costs $54000 to purchase and $ 6000 to install. it has 3 years usable life and it will be depreciated under straight line method using 3 years recovery period. suppose the purchase of hoist N would result in a $6000 increase in net working capital. the projected profits before depreciation and taxes with hoist N and the existing hoist are given below. the existing hoist can be sold at $19000 and will not incur any removal or any cost. at the end of 3 years. the existing hoist can be sold at $12625 before taxes. hoist N can be sold at $44000 at the end of 3 years, before taxes. the firm is subjected to 40% tax rate on both ordinary income and capital gain. the company can raise funds to finance the initial investment via 50% debt and 50% equity. the company's current bond is traded at a price B=800, face value F=1000 and coupon rate C=10%. The bond maturity is 5 years. the company's current stock is traded at a price P- 100, Dividend D=10 and dividends are expected to grow at a constant rate g=16.4%. Evaluate whether the company should replace the old machine with a new one using the net present value method, that is, find the initial investment, the change in operation cash flow, terminal cash flow, WACC, and use your results to find NPV and make decisions. keep one decimal in WACC'