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SHOW ALL WORK. Ignore income taxes in all problems. The management of Serpas Corporation is considering the purchase of a machine that would cost $180,000,

SHOW ALL WORK. Ignore income taxes in all problems. The management of Serpas Corporation is considering the purchase of a machine that would cost $180,000, would last for 5 years, and would have no salvage value. The machine would reduce labor and other costs by $46,000 per year. The company requires a minimum pretax return of 13% on all investment projects. What is the net present value of the proposed project?

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