Crane Sporting Goods is planning to buy a new equipment to replace the existing old equipment. The new equipment will not affect the firm's

unlevered net income or net working capital. The old equipment was purchased $3$ years ago at a price of $$1\mathrm{.}2$ million and follows a five$-$year straight$-$

line depreciation method. The old equipment has a market value of $$0\mathrm{.}5$ million now and $$0$ in the future. The new equipment will cost $$1\mathrm{.}4$ million

and follows a five$-$year straight$-$line depreciation method. By the end of year five, the CFO expects to sell the new equipment for a price of $$0\mathrm{.}6$

million. What is the NPV of the equipment replacement plan for the next five years at a discount rate of $12\%?$ The marginal tax rate for the firm is

$25\%.$

A$.-0\mathrm{.}046$ million

B$.-0\mathrm{.}054$ million

C$.0\mathrm{.}035$ million

D$.0\mathrm{.}045$ million