On January 1, 2021, X Company bought a machine for $43,000. It's now January 1, 2022, and management is disappointed that 2021 operating costs with the machine were $32,000. Since they are expecting future operating costs to continue to be $32,000 a year, they are considering replacing the machine with a new one. Although the new machine will cost $50,000, operating costs with the new machine will decrease by $7,000 each year. Both machines will last for 6 more years. The current machine can be sold immediately for $9,000 but will have no salvage value at the end of 6 years. The new machine will have a salvage value of $4,500 at the end of 6 years. Assuming a discount rate of 7%, what is the net present value of replacing the current machine with the new one? A: $-3,385 Submit Answer B: $-3,961 C: $-4,634 D: $-5,422 E: $-6,343 Answer Submitted: Your final submission will be graded after the due date. F: $-7,422 Previous Tries 1/99 Tries