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Problem #5 (20 pts) J\&B Company is considering investing in an automated manufacturing system costing $1,500,000 and have twenty years useful economic life. It has a salvage value of 20% of the initial cost. The automated manufacturing system will reduce labor and material usage cost. The expected saving will be $300,000 during the first year and decreases by $10,000 per year during the life of the project. The expected operating and maintenance cost associated with this system would be $20,000 for the first year and increases at a rate of 5% per year during the life of the project. Use a present worth analysis to justify this investment assuming that the firm's APR is 12%. Problem #5 (20 pts) J\&B Company is considering investing in an automated manufacturing system costing $1,500,000 and have twenty years useful economic life. It has a salvage value of 20% of the initial cost. The automated manufacturing system will reduce labor and material usage cost. The expected saving will be $300,000 during the first year and decreases by $10,000 per year during the life of the project. The expected operating and maintenance cost associated with this system would be $20,000 for the first year and increases at a rate of 5% per year during the life of the project. Use a present worth analysis to justify this investment assuming that the firm's APR is 12%