Hillsong Inc manufactures snowsults. Hillsong is consideting purchasing a new sewing machine at a cost of $2.45 milion, Its existing machine was purchased five years agoat a price of $1.8 million; six months aso. Hilisong spent $55.000 to keep it operational. The existing sewing machine can be sold today for $241 , 702 . The new sewine machine would require a one time, $85 , 000 training cost. Operating costs would decrease by the following amounts for years 1 to 7 : The new sewing machine would be depreciated according to the declining-balance method at a rate of 20 s. The salvage value is expected to be $379 , 900 . This new equipment would require maintenance costs 0 f $94 , 600 at the end of the fifthyear. The cost of cocital is 9% . Sickhere to new the factoriable: Use the net present value method to determine the following: Of net present volue is negative then enter with negative sign preceding the number es.-45 or parentheses es. (45). Round present value answer to O decimal ploces, es. 125. For calculation purposex, use 5 decimal ploces as disployed in the foctor table provided? Calculate the net present value: Not presentyalue $ Determine whether Hillsong should purchase the new machine to replace the eosting machine? Weara 1. IMrojito 2 400 sic 0 1 a a10s00: 4 and 4 av e + 430 7. aigito0