Sheffield Pix currently uses a six-ycar-old molding machine to manufacturs silver picture frames. The company paid $105,000 for the machine, which was state of the art at the time of purchase. Although the machine will likely last another ten years, it will nesd a $11,000 overhaul in four years. More important, it does not provide enough capacity to meat eustomer demand. The company currently produces and sel| 15,000 frames per year, zenerating a tatal contribution margin of \$102,000. Martson Moldsrs currently sells a molding machine that will allow Sheffeld Pix to increase production and sales to 20,000 frames per year. The machine, which has a ten-year life, sells for $140,000 and would cost \$15,000 per year to operate. Sheffeld Pix's current machine costs only $8,000 per year to operate. If Sheffeld Pix purchases the new machine, the old machine could be sold at its book value of $5,000. The new machine is expected to have a salvase value of $20,000 at the end of its ten-year life. Sheffeld Pox uses straight-line depreciation. Click here to view the factor table. (a) Your answer is incorrect. Calculate the naw machine's net present value assuming a 16% discount rate. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, eg. 58,971.) Natpresentvalue $ Attempts: 1 of 3 used eTextbook and Medla (b) Use Excal or a similar spreadsheet application to caleulate the new machine's internal rate of return. (Round answer to 2 decimal places, eg. 1.25\%) Internal rate of raturn 6 eTextbook and Medla Attempt: 0 of 3 used (c) Calculate the naw machine's payback period. (Round answer to 2 decimal places, e.g. 1.25.) Payback period yoars