Kingbird, a large manufacturing company, currently uses a large printing press in its operations and is considering two replacements: the PDX$341$ and PDW$581.$ The PDX costs $$495,000$ and has annual maintenance costs of $$9,500$ for the first $5$ years and $$14\mathrm{.}500$ tor the next $10$ years. After $15$ years, the PDX will be scrapped $($salvage value is zero$).$ In contrast, the PDW can be acquired for $$123,750$ and requires maintenance of $$29,000$ a year for its $10$ year life. The salvage value of the PDW is expected to be zero in $10$ years. Assuming that Kingbird must replace its current printing press $($it has stopped functioning$),$ has a$($n$)9.$ percent cost of capital, and all cash flows are after tax, which replacement press is the most appropriate? $($Round answers to $2$ decimal places, es$.125\mathrm{.}25.)$

Chain Replication Approach:

NPV of PDX $341$

$

NPV of PDW$581$

$

We would prefer

Equivalent Annual NPV Approach:

Equivalent Annual NPV of PDX$341$

Equivalent Annual NPV of PDW$581$

We would prefer.

without using excel, how to calculate this?