Capital Budgeting The Illinois Fastener Company operates several fastener production cells. One of the cells is in urgent need of repairs. The company's president is questioning the repair costs and is asking if the purchase of a new cell would be a less expensive solution. A new cell can be purchased immediately for $360,000. The life of the cell will be 10 years (scrap value will be $60,000); $30,000 in up-date costs need to be invested at the end of 5 years. Operation costs of the new cell are $210,000 per year. The cell will create an operating income stream of $400,000 per year The Illinois Fastener Company requires a minimum return of 14% on all investment projects. Set up and submit a NPV calculation for the purchase and operation of a new cell