Pilot Plus Pens is deciding when to replace its old machine. The machine's current salvage value is $2.28 million. Its current book value is $1.48 million. If not sold, the old machine will require maintenance costs of $853,000 at the end of the year for the next five years. Depreciation on the old machine is $296,000 per year. At the end of five years, it will have a salvage value of $128,000 and a book value of $0. A replacement machine costs $4.38 million now and requires maintenance costs of $338,000 at the end of each year during its economic life of five years. At the end of the five years, the new machine will have a salvage value of $808,000. It will be fully depreciated by the straight-line method. Pilot will need to purchase this machine regardless of what choice it makes today. The corporate tax rate is 23 percent and the appropriate discount rate is 7 percent. The company is assumed to earn sufficient revenues to generate tax shields from depreciation. Calculate the NPV for new and old machines. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) New machine Old machine