The Espresso Roast Corporation is considering the purchase of a new bean roaster and grinder. The revenues are expected to be the same for Expresso Roast no matter which machine is acquired. The Quick-Roast machine has a cost of $50,000 and is expected to last 4 years with operating costs of $7,000 per year. The Mellow-Roast Co. Machine has a cost of $35,000 and operating costs of $2,500 per year but will last for only 2 years The discount rate is 8%. 1. What is the present value of the costs? 2. Which machine should be chosen