Two machines are being considered as replacements in a chemical processing plant. The data for the potential replacement machines are listed in the Table below. Using an interest rate of $10\%,$ you are asked to tell the company which machine should be selected based on net present worth analysis? Enter your answer as the net present value of the machine which is the better value. SOLVE IN EXCEL

Data for chemical processing plant machine alternatives

Costs or Disbursements

Chemical Plant Machine $1$

Chemical Plant Machine $2$

Initial Cost

$$250,000\mathrm{.}00$

$$350,000\mathrm{.}00$

Operating and Maintenance Costs

$$90,000\mathrm{.}00$

$$70,000\mathrm{.}00$

Salvage Value

$$20,000\mathrm{.}00$

$$35,000\mathrm{.}00$

Life in Years

$5$

$5$