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Current Attempt in Progress Blossom Inc. manufactures snowsuits. Blossom is considering purchasing a new sewing machine at a cost of $ 2 . 4 5

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Current Attempt in Progress
Blossom Inc. manufactures snowsuits. Blossom is considering purchasing a new sewing machine at a cost of $2.45 million. 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 $245,925. 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 $379,000. This new equipment would require maintenance costs of $94,000 at the end of the fifth year. The cost of capital is 9%.
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Use the net present value method to determine the following: (If net present value is negative then enter with negative sign preceding the number e.g.-45 or parentheses e.g.(45). Round present value answer to 0 decimal places, e.g.125. For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
Calculate the net present value.
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