The Rustic Welt Company is proposing to replace its old welt$-$making machinery with more modern equipment. The new equipment costs $$9$ million $($the existing equipment has zero salvage value$).$ The attraction of the new machinery is that it is expected to cut manufacturing costs from their current level of $$8$ a welt to $$4.$ However, as the following table shows, there is some uncertainty about both the future sales and the performance of the new machinery:

$\backslash$table$[[,$Pessimistic,Expected,Optimistic$],[$Sales $($million welts$),0\mathrm{.}4,0\mathrm{.}5,0\mathrm{.}7],[$Manufacturing cost $($$ per welt$),6,4,3],[$Life of new machinery $($years$),7,10,13]]$

Conduct a sensitivity analysis of the replacement decision assuming a discount rate of $12\%.$ Rustic does not pay taxes. Calculate the NPV$.$

Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Enter your answers in dollars not in millions. Negative amounts should be indicated by a minus sign.

$\backslash$table$[[,$NPV of Replacement Decision$],[$Pessimistic$,$Expected,Optimistic$],[$Sales $($million welts$),,,],[$Manufacturing cost $($$ per welt$),,,],[$Life of new machinery $($years$),,,]]$