The owner of Atlantic City Confectionary is considering the purchase of a new semiautomatic candy machine. The machine will cost $21,000 and last 9 years. The machine is expected to have no salvage value at the end of its useful life. The owner projects that the new candy machine will generate $4,400 in after-tax savings each year during its life (including the depreciation tax shield). Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided.) Required: Compute the profitability index on the proposed candy machine, assuming an after-tax hurdle rate of: (a) 4 percent, (b) 6 percent, and (C) 8 percent. (Round your final answers to 2 decimal places.) Profitability Index (a) 4 percent (b) 6 percent (C) 8 percent # 4 Future Value and Present Value Tables & # #a a% g a44 # W E hl= w #n *E n c| # | 8 # # % *** R # 4443