Q8. We're contemplating a new, mechanized welding system to replace our current manual system. It costs $600,000 to get the new system. The cost will be depreciated at a 30 percent CCA rate. Its expected life is four years. The system would actually be worth $ 100,000 at the end of four years. We think the new system could save us $180,000 per year pretax in labour costs. The tax rate is 44 percent. What is the NPV of buying the new system? The required return is 15 percent. The present value of the tax shield on the CCA is $147,750. (Please write NPV with a negative sign in front.)