MKM International is seeking to purchase a new CNC machine in order to reduce costs. Two alternative machines are in consideration. Machine 1 costs $450,000, but yields a 15 percent savings over the current machine used. Machine 2 costs $1,000,000, but yields a 25 percent savings over the current machine used. In order to meet demand, the following forecasted cost information for the current machine is also provided. a. Based on the NPV of the cash flows for these 5 years, which machine should MKM International purchase? Assume a discount rate of 12 percent. Assuming a discount rate of 12 percent, MKM International should purchase because the NPV of machine 1 is $ and the NPV of machine 2 is $ (Enter your responses rounded to the nearest whole number.) b. If MKM International lowered its required discount rate to 8 percent, what machine would it purchase? Assuming a discount rate of 8 percent, MKM International should purchase because the NPV of machine 1 is \$ and the NPV of machine 2 is $ (Enter your responses rounded to the nearest whole number.)