Press Publishing Company hires students from the local university to collate pages on various printing jobs. This collating is all done by hand, at a cost of $90,000 per year. A collating machine has just come onto the market that could be used in place of the student help. The machine would cost $280,000 and have a 11-year useful life. It would require an operator at an annual cost of $33,000 and have annual maintenance costs of $7,000. New roller pads would be needed on the machine in eight years at a total cost of $10,000. The salvage value of the machine in 11 years would be $30,000. For tax purposes, the company computes depreciation deductions assuming zero salvage value and uses straight-line depreciation. The collating machine would be depreciated over 11 years. Management requires a 11% after-tax return on all equipment purchases. The companys tax rate is 30%. Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables. Required: 1. Determine the before-tax annual net cost savings that the new collating machine will provide. (Omit the "$" sign in your response.) Annual net cost savings $ 50,000 2a. Compute the new collating machine's net present value. (Negative amount should be indicated by a minus sign. Round discount factor(s) to 3 decimal places, intermediate and final answers to the nearest dollar amount. Omit the "$" sign in your response.) Net present value