The Lansing Community College registrar's office is considering replacing some Canon copiers with faster copiers purchased from Kodak.

The Lansing Community College registrar's office is considering replacing some Canon copiers with faster copiers purchased from Kodak. The office's 4 Canon machines are expected to last 5 more years. They can each be sold immediately for $1,300; their resale value in 5 years will be zero. The Canon machines require 4 operators; they are paid $7.80 an hour each and work 39 hours a week and 50 weeks a year. The machines break down periodically, resulting in annual repair costs of $1,260 for each machine. The cost of supplies for each machine will be $1,320 a year. The total cost of the new Kodak equipment will be $119,000. The equipment will have a life of 5 years and a total disposal value at that time of $2,700. The Kodak system will require only 3 regular operators. Kodak has offered the college a maintenance contract that covers all machine breakdowns; the cost of the contract is $720 per year. The cost of supplies for all the machines combined will be $3,720 a year. Required Assuming a discount rate of 12%, compute the difference between the net present value if the registrar's office keeps the Canon copiers and the net present value if it buys the Kodak copiers. [Note: If your results favor keeping the Canon copiers, enter your net present value difference as a positive number; if your results favor buying the Kodak copiers, enter your net present value difference as a negative number.]