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Q3. [10 marks] For this question, X is the first two digits (from the right) of your student ID. If the first two digits (from the right) of your student ID is 00, use the value X=65. A finishing machine was bought for your textile plant at a price of $450,000 in the year 2014. The reference size of the machine was 120 yd/min. The plant is planning to buy a similar machine in the year 2020 having a size of 420 yd/min. Assume that the cost- capacity factor is 0.X. Estimate the cost of the machine if the index for this type of machines has had a compound increase of 5% per year