This is a problem with mutually exclusive projects. You only have to do the net present value method, so you can evaluate the projects separately, or you can combine them. But if you evaluate them separately, the answer you submit must be the difference in the two net present values (see the directions for the correct sign to use). As you determine the cash flows, make sure that you use the correct project life and that you treat the current disposal value of the current machines properly. And finally, read everything very carefully; some costs are expressed per machine, some for all machines, some monthly, and some annually. The Lansing Community College registrar's office is considering replacing some Canon copiers with faster copiers purchased from Kodak. The office's 5 Canon machines are expected to last 4 more years. They can each be sold immediately for $1, 200; their resale value in 4 years will be zero. The total cost of the new Kodak equipment will be $112,000, the equipment will have a life of 4 years and a total disposal value at that time of $2, 100. The 5 Canon operators are paid $8.10 an hour each. They work a 39-hour week and 50 weeks a year. The machines break down periodically, resulting in annual repair costs of $1, 080 for each machine. Supplies cost $1, 320 a year for each machine. The Kodak system will require only 2 regular operators to do the same work. Kodak has offered the college a maintenance contract that covers a machine breakdowns; the cost of the contract is $1, 080 per year. Total cost for all supplies will be $3, 120 per year. Assuming a discount rate of 14%, 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