Renegade Industries is considering the purchase of a new machine for the production of latex. Machine A costs $2.94 million and will last for six years. Variable costs are 30% of sales, and fixed costs are $2067848 per year. Machine B costs $5.14 million and will last for nine years. Variable costs for this machine are 22% of sales and fixed costs are $1358748 per year. The sales for each machine will be $10.4 million per year. The required return is 12 %, and the tax rate is 38%. Both machines will be depreciated on a straight-line basis. The company plans to replace the machine when it wears out on a perpetual basis. Calculate the NPV for machine B. (Round answer to 2 decimal places. Do not round intermediate calculations) Topic: Capital Budgeting