$($Time allowance: $10$ minutes$)$ There is only one question and it is for the replace now decision: What is the NPV of th cash flows for the replace now decision? This is a partial question exam created to give credit for partial work $($individ steps in a problem$).$

You are facing the decision of whether to replace an old machine at your factory. A new machine will cost $$48$ to purchase $1$ now and maintenance expenses will be $$8$ a year. The new machine has a life of $5$ years at which time it is estimated it can $b$ sold for $$13.$ The new machine will be depreciated down to zero over $5$ years using straight$-$line depreciation If the new machine is purchased, the old machine can be sold today for $$22.$ However, if the old machine is not replaced today, it will continue to be depreciated down to zero using straight$-$line method over its remaining $4$ years. It is estimated that the old machine can be sold for $$1$ in one year $($at the end year $1).$ The maintenance cost per year for the old machine will be $$10.$ Assume that the discount rate is $10\%$ and the tax rate is $40\%.$

In answering the question, enter your answer in millions of dollars and use$/$round to two decimals, DO NOT USE commas to separate thousands, and do not use the dollar $($$$)$ sign. For example if your answer is $$12,500,340$ then enter $12\mathrm{.}50$; if answer is $$537,459$ then enter $0\mathrm{.}54$ ; if the answer is $$40,000,000$ then enter $40\mathrm{.}00$

The NPV $($at $t=0)$ for the replace now decision is

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