My neighbor, Mrs. Dubois, is the accountant for the cranberry processing plant. The plant has a piece of equipment, nicknamed Harvey that is used to clean and prepare the harvested cranberries. Mrs. Dubois needs to determine if Harvey should be replaced with a newer, better version. Using the NPV tool, we will provide her a recommendation. Facts provided: 1. Old Cranberry Cleaner (Nickname: Harvey) Cost 2. Harvey's Accumulated Depreciation 3. Cash Sales Price for Harvey 4. New Equipment Cost 5. New Equipment Depreciation (Each Year) 6. New Equipment Net Cash Revenues (Each Year) 7. New Equipment Net Cash Expenses (Each Year) 8. New Equipment Estimated Useful Life 9. Tax Rate 10. Cost of Capital $260,000 $150,000 $60,000 $448,000 $44,800 $482,000 $365,000 10 Years 40% 10% Step 4: Accept or reject based on Step #3 a. NPV > 0: Accept the Investment b. NPV