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Although the Chen Company's milling machine is old, it is still in relatively good working order and would last for another 10 years. It is

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Although the Chen Company's milling machine is old, it is still in relatively good working order and would last for another 10 years. It is inefficient compared to modem standards, though, and so the company is considering replacing it, The new mining machine, at a cost of $114,000 delivered and installed, would also last for 10 years and would produce after-tax cash flows flabor savings and depreciation tax savings) of $19,500 per year it would have zero salvoge value at the end of its life. The project cost of capital is 10%, and its marginal tax rate is 25%. Should Chen buy the new machine? Do not round intermediate calculations. Round your answer to the nearest cent. Negative volue, if any, should be indicated by a minus sign. NPV: 5 Chen purchase the new machine

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