Garrett Boone $,$ Novak Enterprises $\text{'}$ vice president of operations $,$ needs to replace an automatic lathe on the production line $.$ The model he is considering has a sales price of $ $294,685$ and will last for $15$ years $.$ It will have no salvage value at the end of its useful life $.$ Garrett estimates the new lathe will reduce raw materials scrap by $ $30,000$ per year $.$ He also believes the lathe will reduce energy costs by $ $6,000$ per year $.$ If he purchases the new lathe $,$ he will be able to sell the old lathe for $ $4,500.$