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any help is appreciated Hillsong Inc. manufactures snowsuits. Hillsong is considering purchasing a new sewing machine at a cost of $2.45 million. Its existing machine

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Hillsong Inc. manufactures snowsuits. Hillsong is considering purchasing a new sewing machine at a cost of $2.45 million. Its existing machine was purchased five years ago at a price of $1.8 million; six months ago, Hillsong spent $55.000 to keep it operational. The existing sewing machine can be sold today for $240,845. The new sewing machine would require a one-time $85.000 training cost, Operating costs would decrease by the following amounts for years 1 to 7: Year 1 2 3 4 $391,000 399,100 411,000 426.000 433,200 435,300 436,500 5 6 7 The new sewing machine would be depreciated according to the declining balance method at a rate of 20%. The salvage value is expected to be $379,800. This new equipment would require maintenance costs of $94.900 at the end of the fifth year. The cost of capital is 9% Click here to view the factor table Use the net present value method to determine the following: (If net present value is negative then enter with negative sign preceding the number e... -45 or parentheses es (45). Round present value answer to decimal places, e.3. 125. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Calculate the net present value. Net present value $ Determine whether Hillsong should purchase the new machine to replace the existing machine? No

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