Ayayai Pix currently uses a six-year-old molding machine to manufacture silver picture frames. The company paid $100,000 for the machine, which was state of the art at the time of purchase. Although the machine will likely last another ten years, it will need a $10,000 overhaul in four years. More important, it does not provide enough capacity to meet customer demand. The company currently produces and sells 12,000 frames per year, generating a total contribution margin of $97,500. Martson Molders currently sells a molding machine that will allow Ayayai Pix to increase production and sales to 15,150 frames per year. The machine, which has a ten-year life, sells for $121,000 and would cost $9,000 per year to operate. Ayayai Pix's current machine costs only $8,000 per year to operate. If Ayayai Pix purchases the new machine, the old machine could be sold at its book value of $5,000. The new machine is expected to have a salvage value of $18,500 at the end of its ten-year life. Ayayai Pix uses straight-line depreciation. Click here to view the factor table. (a) Your answer is incorrect. Calculate the new machine's net present value assuming a 14% discount rate. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to O decimal place, e.g. 58,971.) Net present value eTextbook and Media Save for Later Last saved 50 seconds ago. Attempts: 2 of 3 used Submit Answer Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes