Hillsong Inc, manufactures snowsuits. Hillsong is considering purchasing a new sewing machine at a cost of $2,45 million. Its existing machine was purchased five years ago at a price of $1.8 million; six months ago, Hillsong spent $55,000 to keep it operational. The existing sewing machine can be sold today for $241,533. 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: Year 1 $389,600 2 399,600 3 410,800 4 426,000 5 433,300 6 434,600 7 436,700 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 $95,500 at the end of the fifth year. The cost capital is 9% Click here to view the factor table 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.8. - 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. Net present value $