Question 10 13 pts Bingham, Inc. is considering the purchase of a machine that would cost $500,000 and would last for 12 years at the end of which, the machine would have a salvage value of $5,000 The machine would reduce labor and other costs by S75,000 per year. Additional working capital of $25,000 would be needed immediately, all of which would be recovered at the end of 12 years The company requires a minimum pretax return of 11% on all investment projects Required Determine the net present value of the project. Show your work! TABLE 3 Present Value of 1