An engineering firm uses a sheet metal cutting machine and is considering replacing it with a new machine. The data for the existing and new machines are listed in the Table below. The interest rate is 10%. New Machine $2,000,000.00 Metal Sheet Cutting Machine Data Costs and Existing Machine Disbursements Initial cost $600,000.00 (foregone resale value) Salvage value Cost of operators 2 operators at $120.00 per hour Production 12 sheets per hour Annual operating and $100,000.00 maintenance cost 4 $400,000.00 1 operator at $160.00 per hour 20 sheets per hour $300,000.00 Life in years 8 a. Calculate the variable annual cost of production for each Machine in terms of the unknown number, X, of metal sheets produced annually. b. Sketch the Cash Flow diagrams. c. Calculate the Uniform Annual Costs for each Machine in terms of the unknown number, x, of metal sheets produced annually. d. Determine how many metal sheets need to be produced per year to justify the purchase of the new CNC machine