Joanette, Inc., is considering the purchase of a machine that would cost $460,000 and would last for 6 years, at the end of which, the machine would have a salvage value of $56,000. The machine would reduce labor and other costs by $116,000 per year. Additional working capital of $2,000 would be needed immediately, all of which would be recovered at the end of 6 years. The company requires a minimum pretax return of 17% on all investment projects (Ignore income taxes) Click here to view Exhibit 138.1 and Exhibit 138-2 to determine the appropriate discount factor(s) using the tables provided. Required: Determine the net present value of the project. (Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to the nearest whole dollar amount.) Net present value EXHIBIT 13B-1 Pest Periods 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23% 24% 25% 1 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 Oss 0.847 0.840 0.833 0.826 0.820 0.813 806 0.800 2 0.925 0.907 0.890 0.873 0.857 0342 0.826 0812 0.797 0.783 0.769 0.756 0.743 0.731 0718 0.706 0.694 0683 0.672 0.661 0.650 0.540 3 0889 0.364 0.840 0.816 0.794 0.772 0.751 0.731 0.712 0.693 0675 0.658 0641 0624 0.609 0.593 0.579 0564 0.551 0.537 0.524 0.512 4 0.855 0.823 0.792 0.763 0735 0708 0.683 0 659 0.636 0.613 0 592 0.572 0.552 0534 0516 0.499 0.482 0467 0.451 0.437 0.423 0410 5 0.822 0.784 0.747 0.713 0681 0.650 0.621 0.593 0.567 0,543 0.519 0.497 0.476 0.456 0.437 0.419 0.402 0.386 0.370 0.355 0.341 0.328 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.535 0.507 0.480 0.456 0.432 0410 0.390 0.370 0.352 0.335 0.319 0.303 0.289 0.275 0.262 7 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.482 0.452 0425 0.400 0.376 0.354 0232 0314 0.296 0.279 0263 0.249 0.235 0.222 0.210 8 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0.233 0.218 0.204 0.191 0.179 0.168 9 0.703 0.645 0.592 0.544 0.500 0.460 0.424 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0.194 0.180 0.167 0.155 0.144 0.134 10 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.352 0.322 0.295 0.270 0.247 0.227 0.208 0.191 0.176 0.162 0.149 0.137 0.126 0.116 0.107 11 0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.317 0.287 0.261 0237 0.215 0.195 0.78 0.162 0.148 0.135 0.123 0.112 0.103 0.094 0.086 12 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.286 0.257 0.231 0 208 0.187 0.168 0.152 0.137 0124 0.112 0102 0.092 0.083 0.076 0.069 13 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.258 0.229 0.204 0.182 0.163 0.145 0.130 0.116 0.104 0.093 0.084 0.075 0.068 0.061 0.055 14 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0.232 0 205 0.181 0.160 0.141 0.125 0.111 0.099 O OBB 0.078 0 069 0062 0.055 0.049 0.044 15 0.555 0.481 0.417 0.362 0.315 0.275 0.239 0.209 0.183 0.160 0.140 0.123 0.108 0.095 0,084 0.074 0.065 0.057 0.051 0.045 0.040 0.035 16 17 18 19 20 0.534 0.458 0.394 0.339 0.292 0252 0218 0 188 0 163 0.141 0.123 0.107 0093 OOR1 0 071 0.062 0054 0047 0042 0.036 0032 0028 0.513 0.436 0 371 0 317 0.270 0 231 0 198 0.170 0.146 0.125 0.108 0.093 000 0069 0.060 0.052 0045 0039 0.034 0.030 0.026 0.023 0.494 0.416 0 350 0.296 0.250 0 212 0 180 0.153 0 130 0.111 0095 0.081 0069 0 059.0051 0.044 0.038 0032 0.028 0.024 0.021 0.018 0.475 0.396 0.331 0.277 0 232 0.194 0 164 0 138 0.116 0.098 0.083 0070 0060 0 051 0043 0.037 0.031 0.027 0.023 0.020 0.017 0014 0.456 0.377 0.312 0.258 0.215 0.178 0.149 0.124 0.104 0.087 0.073 0.061 0 051 0043 0.037 0.031 0.026 0.022 0.019 0.016 0.014 0.012 21 22 23 24 25 26 27 28 29 30 40 0.439 0.359 0.294 0.242 0.199 0.164 0.135 0.112 0.093 0.077 0.064 0.053 0.044 0.037 0.031 0.026 0.022 0.018 0.015 0.013 0.011 0.009 0.422 0.342 0.278 0.226 0.184 0.150 0.123 0.101 0.083 0,068 0.056 0.046 0.038 0.032 0.026 0.022 0.018 0,015 0.013 0.011 0.009 0.007 0.406 0.326 0.262 0.211 0.170 0.138 0.112 0.091 0.074 0.060 0.049 0.040 0.033 0.027 0.022 0.018 0,015 0,012 0.010 0.000 0.007 0.006 0.390 0.310 0.247 0.197 0.150 0.126 0.102 0.002 0.066 0.053 0.043 0.035 0.020 0.025 0.019 0,015 0.013 0.010 0.008 0.007 0.006 0.005 0.375 0.295 0.233 0.184 0.146 0.116 0.092 0.074 0.059 0.047 0.038 0.030 0.024 0.020 0.016 0.013 0.010 0.009 0.007 0.006 0.005 0.004 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.056 0.053 0.042 0.033 0.026 0.021 0.017 0.014 0.011 0.000 0.007 0.006 0.005 0.004 0.003 0.347 0.268 0.207 0.161 0.125 0.098 0.076 0.060 0.047 0.037 0.029 0.023 0.018 0.014 0.011 0.009 0.007 0.006 0.005 0.004 0.003 0.002 0333 0255 0.16 0.150 0.116 0090 0 059 0054 0042 0033 0026 00200016 0012 0010 0.008 0006 0005 0004 0.003 0.002 0002 0321 0243 0.185 0.161 0 107 0082 0063 004 0037 0029 0022 0.017 0014 0011 0008 0.006 0005 0004 0.003 0.002 0.002 0.002 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.044 0.033 0.026 0.020 0,015 0,012 0.009 0.007 0.005 0.004 0.003 0.003 0.002 0.002 0.001 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.015 0011 0.008 0.005 0.004 0.003 0.002 0.001 0.001 0.001 0.000 0.000 0.000 0.000 0.000 EXHIBIT 138-2 Present Value of an Annulty of St Arrears ||- Periods 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23% 24% 25% 1 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833 0.826 0.820 0.813 O.BOG 0.800 1.886 1.859 1833 1.808 1.783 1.759 1.736 1.713 1.690 1668 1.647 1.626 1.605 15AS 1 566 1.547 1528 1.509 1.492 1474 1.457 1.440 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.444 2.402 2.361 2.322 2.283 2.246 2210 2.174 2.140 2.106 2.074 2.042 2011 1.981 1.952 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.102 3.037 2.974 2.914 2.855 2.798 2.743 2.690 2.639 2.589 2.540 2.494 2448 2.404 2.362 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.696 3.605 3.517 3.433 3.352 3.274 3.199 3.127 3.058 2.991 2.926 2.864 2.803 2.745 2.689 5242 5076 4917 4767 4623 486 4.355 4 231 4.111 299R 3 BR9 3.784 36.85 359 2498 2410 2.326 3 245 2167 2 092 2020 2.951 6.002 5.786 5.582 5.389 5206 5033 4.868 4712 4564 4423 4288 4160 4039 3022 2812 2706 2605 3.508 2416 2.327 3242 3 161 6.723 6.463 6210 5.971 5.747 5.535 5.335 5.146 4 968 4,799 4.639 4.487 4.344 4207 4 078 3.954 3.837 2.726 3619 2.518 3.421 3.329 7.435 7.108 6.802 6.515 6 247 5.995 5.759 5.537 5328 5.132 4.946 4.772 4.607 4.451 4.303 4.163 4.031 2.905 3.786 3.673 3.566 3.463 8.111 7.722 7.360 7.024 6.710 6.418 6.145 5.889 5.650 5.426 5.216 5,019 4.833 4.659 4.494 4.339 4.192 4.054 3.923 3.799 3.682 3.571 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 40 8.760 8.306 7.887 7.499 7.139 6.805 6.495 6.207 5.938 5.687 5.453 5.234 5.029 4.835 4.656 4.486 4 327 4.177 4.035 3.902 3.776 3.656 9.385 8.863 8.384 7.943 7.536 7.161 6.814 6.492 6.194 5.918 5.660 5.421 5.197 4.988 4.793 4.611 4.439 4.278 4.127 3.985 3.851 3.725 9.986 9.394 8.853 8.358 7.904 7.487 7.103 6.750 6 424 6.122 5.842 5583 5.342 5 118 4 910 4715 4.533 4 362 4203 4053 3912 3.780 10.563 9.899 9.295 8.745 8.244 7.786 7.367 6.982 6.628 6.302 6.002 5.724 5.468 5220 5.008 4.802 4,611 4.432 4265 4.108 3.962 3.824 11.118 10.380 9.712 9.108 8.559 8.061 7.606 7.191 6.811 6.462 6.142 5.847 5.575 5.324 5.092 4.876 4.675 4.489 4.315 4.153 4.001 3.859 11.652 10.838 10.106 9.447 8851 8.313 7.824 7.379 6974 6,604 6.265 5.954 5668 5.405 5.162 4.938 4.730 4.536 4.357 4.189 4.033 3.887 12.166 11.274 10.477 9.763 9.122 8544 8022 7549 7.120 6729 6.373 6047 5749 5 475 5 222 4.990 4.775 4.576 4 391 4219 4.059 3.910 12.659 11.690 10.828 10.059 9.372 8.756 3.201 7.702 7.250 6.840 6.467 6.128 5.818 5534 5.273 5.033 4812 4.608 4.419 4 243 4080 3.928 13.134 12.085 11.158 10.336 9.604 8.950 8.365 7839 7366 6.938 6.550 6.198 5877 5584 5.316 5.070 4843 4.635 4.442 4.263 4.097 3.942 13.590 12.462 11470 10.594 9.818 9.129 8.514 7.963 7.469 7025 6.623 6.259 5.929 5620 5.353 5.101 4.870 4,657 4.460 4.279 4.110 3.954 14.029 12.821 11.764 10.836 10.017 9.292 8.649 8075 7.562 7.102 6,687 6.312 5.973 5.665 5.384 5.127 4.891 4.675 4.476 4.292 4.121 3.963 14.451 13 163 12042 11 061 10 201 9442 8722 8 176 7645 7.170 6741 61596011 5606 5410 5 149 4 909 4 690 4 488 4 302 4.130 3970 14857 13.489 12 303 11.272 10 371 9580 B8 8 266 7718 7230 6.792 6199 6044 5723 5.432 5 167 4 925 4.703 4.499 4 311 4.137 3.976 15 247 13.799 12 550 11.469 10.529 9.707 8905 8.348 7784 2283 6.835 6.434 6073 5746 5.451 5.182 4.937 4.713 4.507 4318 4.143 3.981 15.622 14.094 12.783 11.654 10.675 9.823 9.077 8.422 7.843 7.330 6.873 6.464 6.097 5766 5.467 5.195 4948 4.721 4.514 4.323 4.147 3.985 15.983 14.375 13.003 11.826 10 810 9929 0.161 848 7.896 7.372 6006 6 491 6 118 5783 5 480 5 206 4 956 4.728 4520 4.328 4.151 3.988 16 330 14 643 13 211 11.987 10 935 100279 237 8548 7943 7 409 6 935 6514 6 136 570 5.492 5 215 4 964 4734 4524 4332 4.154 3 990 16.663 14.898 13.406 12.137 11051 10.1169 307 8 602 7084 7.441 6.961 6 534 6 152 5810 5 502 5223 4 970 4739 4528 4 335 4.157 3.992 16.984 15.141 13.591 12.278 11.158 10.198 9.370 8.650 8.022 7.470 6.983 6551 6.166 5.820 5.510 5.229 4 975 4.743 4531 4.337 4.159 3.994 17.292 15.372 13.765 12.400 11.258 10.274 9.427 8.694 8055 7.496 7003 6.566 6.177 5 829 5.517 5.235 4.979 4.746 4534 4 339 4.160 3.995 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.951 8.244 7.634 7 105 6.642 6233 5.871 5.548 5 258 4 997 4 760 4544 4347 4. 166 3.999