Please show your work and refer to the charts. Answer cant be $62002.51 or $989. Thanks!

X Company must decide whether to continue using its current equipment or replace it with new, more efficient equipment. The following information is available for the current and new equipment: Current equipment Current sales value Final sales value Operating costs $5,000 4,000 61,000 New equipment Purchase cost Final sales value Operating costs $48,000 7,000 51,000 Maintenance work will be necessary on the new equipment in Year 3, costing $4,000. The current equipment will last for 5 more years; the life of the new equipment is also 5 years. Assuning a discount rate of 696, what is the net present value of replacing the current equipment? Submt Answer Present Value of $1.00 Period 3% | 496 596 | 696 796 896 | 996 1096| 1196 | 1296 1 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 2 0.943 0.925 0.907 0.890 0.873 0.8570.842 0.826 0.812 0.797 3 0.915 0.889 0.864 0.840 0.816 0.794 0.772 0.751 0.7310.712 4 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.659 0.636 5 0.863 0.822 0.784 0.7470.713 0.681 0.650 0.621 0.593 0.567 6 0.837 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.535 0.507 7 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.482 0.452 8 0.789 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.434 0.404 Present Value of an Annuity of $1.00 Period. 3% | 496 | 596 | 696 | 796-1 896-9% 10% 11%: 12% 1 0.971 0.962 0.952 0.9430.935 0.926 0.917 0.909 0.901 0.893 2 1.913 1.886 1.859 1.833 1.808 1.783 1.7591.736 1.713 1.690 3 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.4872.444 2.402 4 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.102 3.037 5 4.580 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.696 3.605 6 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.355 4.231 4.111 76.230 6.002 5.786 5.582 5.389 5.206 5.033 4.868 4.712 4.564