(Time allowance: 39 minutes) Soft_Water Company is considering replacing its old machine for a new industrial bottling machine. Project is a 10 -year project.This is a one-time project: it completely ends at the end of 10 years. You are askd to find what is the maximum price to pay for the new machine. The following information is provided to you: - $55 was paid for the old machine that is to be replaced. It was bought 4 years ago and as of today there are 6 years left of its scheduled life remaining. The old machine is being depreciated using straight-line depreciation method. The market value of the old machine today is $16 and zero at the end of its life (in 6 years). - The new machine will be fully depreciated on a straight-line basis over its 10-year life. It is estimated that this new machine can be sold at the end of year 10 for $5. - The new machine will not change revenues, but it is expected to generate savings in operating costs in the amount of $20 (before taxes) per year for 10 years. These savings in costs are at year- end. - The new machine requires additional working capital of $5. - The corporate tax rate is 20 percent. - The firm's required rate of return is 9 percent. - All cash flows occur at year-end. Capital gains and losses are taxed at the corporate rate of 20% when they are realized. In answering the questions that are answers in dollars, and use/round to two decimals, and do not use the dollar (\$) sign. For example if your answer is $12.5024 then enter 12.50; Your