Taylor Company is considering the purchase of a new machine. The machine will cost $180,000 and is expected to last for 9 years. However, the machine will need maintenance costing $15,000 at the end of year four and maintenance costing $30,000 at the end of year eight. In addition, purchasing this machine would require an immediate investment of $32,000 in working capital which would be released for investment elsewhere at the end of the 9 years. The machine is expected to have a $10,000 salvage value at the end of 9 years. The machine will be used to generate net cash inflows of $60,000 per year in each of the 9 years. Taylor Company has a cost of capital of 16% and an income tax rate of 30%. Calculate the net present value (NPV) of this machine. You will need to use the present value table factors posted in carmen to answer this question. To access these factors, click modules and then scroll to weeks 13 & 14. Click on the link labeled present value table factors. No credit will be awarded for this question using a means other than these table factors to answer this question. Present Value of a Lump-Sum Periods 3% 5% 8% 0.9709 0.9524 0.9259 | 0.9426 0.9070 0.8573 0.9151 0.8638 0.7938 0.8885 0.8227 0.7350 | 0.8626 0.7835 0.6806 0.8375 0.7462 0.6312 7 0.8131 0.7107 0.5835 0.7894 0.6768 0.5403 0.7664 0.6446 0.5003 0.7441 0.6139 0.4630 12 0.7014 0.5568 0.3971 0.64190.4810 0.3152 0.6232 0.4581 0.2919 17 0.6050 0.4363 0.2703 18 0.5874 0.4155 0.2503 0.5703 0.3957 0.2317 0.5537 0.3769 0.2146 0.5375 0.35890.1987 24 0.4920 0.3101 0.1577 25 0.4776 0.2953 0.1460 Rate of interest per period in percent 9% 10% 12% 14% 15% 16% 0.9174 0.9091 0.8929 0.8772 0.8696 0.8621 0.8417 0.82650.7972 0.7695 0.7561 0.7432 0.7722 0.7513 0.7118 0.6750 0.6575 0.6407 0.7084 0.6830 0.6355 0.5921 0.5718 0.5520 0.6499 0.62090.5674 0.5194 0.4972 0.4761 0.5963 0.5645 0.5066 0.4556 0.4323 0.4104 0.5470 0.5132 0.4523 0.39960.37590.3538 0.5019 0.4665 0.40390.3506 0.3269 0.3050 0.4604 0.4240 0.3606 0.3075 0.2843 0.2630 0.4224 0.38550.3220 0.2697 0.2472 0.2267 0.3555 0.3186 0.2567 0.2076 0.1869 0.1685 0.2745 0.23940.1827 0.1401 0.1229 0.1079 0.2519 0.2176 0.1631 0.1229 0.1069 0.0930 0.2311 0.1978 0.1456 0.1078 0.0929 0.0802 0.2120 0.1799 0.1300 0.0946 0.0808 0.0691 0.1945 0.1635 0.1161 0.0829 0.0703 0.0596 0.1784 0.1486 0.1037 0.0728 0.0611 0.0514 0.1637 0.1351 0.0926 0.0638 0.0531 0.0443 0.1264 0.1015 0.0659 0.0431 0.0349 0.0284 0.1160 0.0923 0.0588 0.0378 0.0304 0.0245 20% 0.8333 0.6944 0.5787 0.4823 0.4019 0.3349 0.2791 0.2326 0.1938 0.1615 0.1122 0.0649 0.0541 0.0471 0.0376 0.0313 0.0261 0.0217 0.0126 0.0105 Present Value of an Annuity Periods 3% 0.9709 1.9135 2.8286 3.7171 4.5797 5.4172 6.2303 7.0197 7.7861 8.5302 9.9540 11.9379 12.5611 17 13.1661 13.7535 19 14.3238 14.8775 15.4150 25 17.4132 5% 0.9524 1.8594 2.7233 3.5460 4.3295 5.0757 5.7864 6.4632 7.1078 7.7217 8.8633 10.3797 10.8378 11.2741 11.6896 12.0853 12.4622 12.8212 14.0939 8% 0.9259 1.7833 2.5771 3.3121 3.9927 4.6229 5.2064 5.7466 6.2469 6.7100 7.5361 8.5595 8.8514 9.1216 9.3719 9.6036 9.8182 10.0168 10.6748 Rate of interest per period in percent 9% 10% 12% 14% 15% 0.9174 0.9091 0.8929 0.8772 0.8696 1.75911.7355 1.6901 1.6467 1.6257 2.5313 2.48692.4018 2.3216 2.2832 3.2397 3.1699 3.0374 2.9137 2.8550 3.8897 3.7908 3.6048 3.4331 3.3522 4.4859 4.3553 4.1114 3.8887 3.7845 5.0330 4.8684 4.5638 4.2883 4.1604 5.5348 5.3349 4.9676 4.6389 4.4873 5.9953 5.7590 5.3283 4.9464 4.7716 6.4177 6.14465.6502 5.2161 5.0188 7.1607 6.8137 6.1944 5.6603 5.4206 8.0607 7.6061 6.8109 6.1422 5.8474 8.3126 7.8237 6.9740 6.2651 5.9542 8.5436 8.0215 7.1196 6.37296.0472 8.7556 8.2014 7.2497 6.4674 6.1280 8.9501 8.36497.3658 6.5504 6.1982 9.1286 8.5135 7.4694 6.6231 6.2593 9.2922 8.6487 7.5620 6.6870 6.3125 9.8226 9.0770 7.8431 6.87296.4641 16% 0.8621 1.6052 2.2459 2.7982 3.2743 3.6847 4.0386 4.3436 4.6065 4.8332 5.1971 5.5755 5.6685 5.7487 5.8178 5.8775 5.9288 5.9731 6.0971 20% 0.8333 1.5278 2.1065 2.5887 2.9906 3.3255 3.6046 3.8372 4.0310 4.1925 4.4392 4.6755 4.7296 4.7746 4.8122 4.8435 4.8696 4.8913 4.9476 21