Alternative 2: Sell the old machine for $46,000 and buy a new one. The new machine requires an initial investment of $294,000 and can be sold for a $6,000 salvage value in flve years. It would yield cost savings and higher sales, resulting in net cash flows of $49,000 in each of the next five years. Required: 1. Determine the net present value of alternative 1 . 2. Determine the net present value of alternative 2 . 3. Which alternative should management select based on net present value? Complete this question by entering your answers in the tabs below. Determine the net present value of alternative 2. (Negative net present values should be indicated with a ininus sign. Do not round intermediate calculations. Round your present value factor to 4 decimals and final answers to the nearest whole dollar.)