Quip Corporation wants to purchase a new machine for $286,000. Management predicts that the machine will produce sales of $186,000 each year for the next 5 years. Expenses are expected to include direct materials, direct labor, and factory overhead (excluding depreciation) totaling $80,000 per year. The firm uses straightline depreciation with an assumed residual (salvage) value of $50,000. Quip's combined income tax rate, t, is 30%. Management requires a minimum after-tax rate of return of 10% on all investments. What is the estimated net present value (NPV) of the proposed investment (rounded to the nearest hundred dollars)? Assume that after-tax cash inflows occur at yearend. $49,000$80,000$99,200$112,200$70,200 Quip Corporation wants to purchase a new machine for $286,000. Management predicts that the machine will produce sales of $186,000 each year for the next 5 years. Expenses are expected to include direct materials, direct labor, and factory overhead (excluding depreciation) totaling $80,000 per year. The firm uses straightline depreciation with an assumed residual (salvage) value of $50,000. Quip's combined income tax rate, t, is 30%. Management requires a minimum after-tax rate of return of 10% on all investments. What is the estimated net present value (NPV) of the proposed investment (rounded to the nearest hundred dollars)? Assume that after-tax cash inflows occur at yearend. $49,000$80,000$99,200$112,200$70,200