Although the Chen Companys milling machine is old, it is still in relatively good working order and would last for another 4 years. It is inefficient compared to modern standards, though, and so the company is considering replacing it. The new milling machine, at a cost of 114,916 delivered and installed, would also last for 4 years and would produce after-tax cash flows (labor savings and depreciation tax savings) of 20,685 per year. It would have zero salvage value at the end of its life. The firms WACC is 10.0%, and its marginal tax rate is 30.0%. What is the NPV of this project? ($49,347) $41,103 $34,149 $30,863 $19,120