TD Bank is considering replacing all of it existing photocopiers in its corporate office with new ones.They can replace it with Canon, which will cost $520,000 in total.The Canon machine is more efficient and is expected to use less ink, which will result in an annual pre-tax savings of $215,000.Canon machines is expected to last 5 years before replacement is required.Alternatively, they can replace it with Toshiba, which will cost $800,000 in total.The Toshiba machine will result in an annual pre-tax savings of $233,000.Toshiba machine is expected to last 8 years before replacement is required.The cost of capital is 12% and the tax rate is 20%.Should TD Bank replace all its existing photocopiers?If so, which brand should it choose?

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