Garrett Boone, Parish Enterprises$$ vice president of operations, needs to replace an automatic lathe on the production line. The model he is considering has a sales price of $$207,017$ 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 $$20,000$ per year. He also believes the lathe will reduce energy costs by $$5,000$ per year. If he purchases the new lathe, he will be able to sell the old lathe for $$5,500.$