Q5 MN Company purchased and installed a Machine for $64,000 which produces Jell Pens. The estimated useful life of Machine was 5 year and residual value $4000. The expected sale in year-1 is 8,000 pens and it will increase by 5% each year. The selling price of each Pen $20, Material and Conversion cost are $3 and $2 respectively. The incremental fixed cost for this machine $400 per year excluding depreciation. The applicable Corporate Tax rate is 30%. Required: Calculate the Net Present Value of the Above Project where WACC is at 12%