Crimson Red Berhad is thinking of investing RM150,000 in a brand-new sewing machine that will also cost RMIO.OOO to ship, RM8,000 to install, and RMI 5,000 to modify. The straightline method will be used to depreciate the new equipment to zero throughout its 6-year useful life. Over the next six years, the machine is predicted to save RM15,000 in labour and electricity costs while producing new sales of RM70,000 annually. However, the cost of production will also go up by RM 5,000 annually. Purchasing the machine requires an RM35,000 increase in inventories and a RMI 5,000 increase in accounts payable. It is anticipated that the change in Net Operating Working Capital will be fully recovered in year 6. The machine is anticipated to have a disposal value of RM90,000 in year 6. For capital budgeting purposes, Crimson Red Berhad utilises a 12% discount rate and a marginal tax rate of 24%. Required: a) Calculate the project initial outlay. (7Marks) b) What is the Net Present Value of the proposed project? (1 Marks) c) Should Crimson Red Berhad proceed with the project? (2 Marks)