Q4) Your corporation is considering replacing older equipment. The old machine is fully depreciated and cost $50,876.00 seven years ago. The old equipment currently has no market value. The new equipment cost $85,691.00 . The new equipment will be depreciated to zero using straight-line depreciation for the four-year life of the project. At the end of the project the equipment is expected to have a salvage value of $11,932.00 . The new equipment is expected to save the firm $39,148.00 annually by increasing efficiency and cost savings. The corporation has tax rate of 28.31% and a required return on capital of 10.50% .

d) What is the NPV for this project? (2.5 Points)