Problem 21 Intro Ford wants to buy a new machine for painting car bodies. It has narrowed down the choice to two machines that can do the job equally well: Machine name Machine 1 Machine 2 Purchase price 60,000 70,000 Useful live (years) 3 4 Maintenance cost (paid at the end of each year) 5,000 3,000 Salvage value at end of useful live 20,000 30,000 The relevant discount rate is 8% and the tax rate is 34%. Both machines will be depreciated to zero using the straight-line depreciation method. Part 1 Is Attempt 1/10 for 10 pts. 1 Create a spreadsheet that shows the purchase price, maintenance costs, depreciation tax shield and after-tax salvage value for machine 1 for each year of its useful live. What is the sum of present values (NPV) of all cash flows associated with machine 1 (expresseri as a positive number? 0+ decimals Submit Part 2 IB Attempt 1/10 for 10 pts. What is the equivalent annual cost for machine 1? 0+ decimals Submit Part 3 IB Attempt 1/10 for 10 pts. On a separate tab, create a spreadsheet that shows the purchase price, maintenance costs, depreciation tax shield and after-tax salvage value for machine 2 for each year of its useful live. What is the sum of present values (NPV) of all cash flows associated with machine 2 (expressed as a positive number)? 0+ decimals Submit Part 4 FE- Attempt 1/10 for 10 pts. What is the equivalent annual cost for machine 2? 0+ decimals Submit