Blossom Inc. manufactures snowsuits. Blossom is considering purchasing a new sewing machine at a cost of $2.45million. Its existing machine was purchased 5 years ago at a price of $1.8 million; six months ago, Blossom spent $55,000 to keep it operational. The existing sewing machine can be sold today for $241,705. 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 : 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 $379,900. This new equipment would require maintenance costs of $94,600 at the end of the fifth year. The cost of capital is 9%. Use the net present value methad to determine the following: (If net present value is negotive then enter with negative sisn precedirg the number es -45 or parentheses es. (45). Round present value answer to 0 dedimal ploces, es. 125. For calculation purposes, use 5 decimal places as disployed in the factor table provided.) Calculate the net present value. Netpresent value $ Determine whether Blossom should purchase the new machine to replace the existing machine