Exercise 20-3 Hiland Inc. manufactures snowsuits. Hiland is considering purchasing a new sewing machine at a cost of $2.45 o t months ago, Miland spent $55,000 to keep it operational The ng swing machine can be sold today for $241.954. The Operating costs would decrease by the following amounts for years 1 to 7: ting machine purchased five years at a price of sewing machine would requires one-time, $85,000 training cost. 2 4 300 399 300 410,700 425,000 42.900 434,700 432,300 5 7 The new sewing machine would be deprecated according to the declining balance method at a rate of 204 The salvage value is expected to be 379,300. This new equipment would require maintenance costs of 595,100 at the end of the year. The cost of capital is 9% Co n the factor table the (For calculation purpose decat cess e d in the factore provided) Use the present value method to determine the following: (net present value is negative than enter with negative in preceding the number Ro w er for present value to decimal places 125.) Calculate the present value Neprecat machine Shoud Hand Inc. purchase the new machine to replace the on how Click if you would like to show Work for this