Karpets Industries is investing in a new high-speed loom for weaving its rugs and carpets. The new loom will have a useful life of 6 years an cost $70,000. The loom's residual value is $5000. Assume that Karpets requires a return of 10% and that the loom will create annual cost savings of $17,450. What is the net present value (NPV) of the new loom? (Round any intermediary calculations and your final answer to the nearest dollar.) Present Value of $1 Periods 8% 10% 12% 14% 5 0.681 0.621 0.567 0.519 6 0.630 0.564 0.507 0.456 7 0.583 0.513 0.452 0.400 8 0.540 0.467 0.404 0.351 9 0.500 0.424 0.361 0.308 10 0.463 0.386 0.322 0.270 Present Value of Annuity of $1 Periods 8% 10% 12% 14% 5 3.993 3.791 3.605 3.433 6 4.623 4.355 4.111 3.889 7 5.206 4.868 4.564 4.288 8 5.747 5.335 4.968 4.639 9 6.247 5.759 5.328 4.946 10 6.710 6.145 5.650 5.216 O $5995 O $78,815 $3175 $8815 boporlock com is sharing your screen. Stop sharing