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? You must show all calculation steps, providing a final answer only will not get you full marks.