The Erley Equipment Company purchased a machine five years ago which has a remaining life of three years. The machine has a current book value of $45,000 and it is being depreciated by the straight-line method. Erley feels it can sell this old machine for $55,000 today. A new machine can be purchased for $125,000, and installation costs are estimated to be $25,000. Sales are not expected to change, however, it will reduce cash operating expenses by $40,000 per year. At the end of three years, the machine is estimated to be sold for $15,000. MACRS depreciation will be used. The applicable depreciation rates are 33%, 45%, 15% and 7%. The new machine will also require an increase in accounts receivable of $1,500, however, accounts payable will also rise by $500. The firms tax rate is 35%. The appropriate WACC is 10%. Should Erley replace the old machine?

(Need all the working/calculations and not a direct answer. Need the whole statement which first shows the changes in EBIT, OCF, NOWC, FCF etc. Also provide calculator keys for NPV)