The directors of Brisbane Ltd are considering an investment in new machine. The details of the proposal are as follows: - Cost: \$500,000. - Savings generated per year: $160,000 - Useful life: 4 years - Scrap value: $40,000 - Required rate of return: 15 percent. Present value factors for discount rate of 15 percent for n periods: Required: (a) Calculate the net present value for the proposed purchase of a new machine and specify whether the project is acceptable. Ignore taxation. (7 marks) (b) Explain how money is said to have a 'time value