Luboh P/L wants to replace its old machine that is used in assembling computer parts. The machine has no depreciation left and can be used for further 5 years which leaves with no salvage value. The second option is to sell this old machine and replace it with a new one at $20,000 now. The new machine costs $600,000 and expected to give annual saving of $150,000 for the next 6 years. After that, the new machine will be discarded with no residual value. Required a) Luboh P/L expects the new machine to yield 13% in return. Calculate the NPV for replacing the old machine with the new one. b) What is the IRR to replace the old machine? c) What is the payback period for the new machine