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- The new equipment will have a cost of $1,200,000, and it wili be depreciated on a straight-line basis over a period of six years (years 16) - The old machine is also being depreciated on a straight-line basis. It has a book value of $200,000 (at year 0 ) and four more years of depreciation left ($50,000 per year). - The new equipment will have a salvage value of 50 at the end of the project's life (year 6 ). The old machine has a current salvage value (at year 0) of $300,000. - Replading the old machine will require an invertment in net operating working capital (NOWC) of $50,000 that will be recovered at the and of the project's life (year 6). - The new machine is more efficient, so the firm's incremental earninos before interest and taxes (EBIT) will increase by a total of $600,000 in each of the next six years (years 16 ). Hint: This value represents the cifference between the revenues and operating costs (indluding depredation eqpense) generated using the new equipment and that eamed using the old equipment. - The project's costiof caplal is 13%. - The company's annual tax rate is 40%. Complete the following table and compute the incremental cash flows associated with the replacement of the old equipment with the new equipment. The net present value (NPV) of this replacement project is: $1,123,920. $842,940. $1,292,508. $1,348,704