CCNY, Inc. is considering the acquistition of a new left-handed press. The base price of the press is indicated below. In addition there are modification costs, noted below, for CCNY's special use. The press falls into the MACRS 3-year class. The new press is expected to speed up production and result in an increase in gross annual sales and an increase in annual variable costs as noted below. Inventories, accounts payable, and accounts receivable are all expected to increase (as noted) to support the heightened activity. The press is expected be sold after three years for the given salvage value. The tax rate and appropriate discount rate are noted. Find the NPV of this project and indicate if the press should be purchased. Base Price $3,843,022 modification costs $45,360 Variable cost increase $1,360,800 Gross Sales increase $2,721,600 Salvage Value $1,150,182 Accounts receivable change $204,120 Inventory Change $54,432 Accounts payable change $281,232 Discount rate 12% Tax rate 30% NPV Purchase (yes or no WORK AREA