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Question 2 Staten Island Construction Company has decided to purchase a new front loader to replace their existing front loader. The existing machine is 3 years old, and had an original cost of $42,000. This current machine is being depreciated under MACRS using a 5-year recovery period. Although the current front loader has only three years of depreciation remaining under MACRS, it has a remaining usable life of 5 years. The company is considering one of two options. The first option, Option X, would require the purchase of a $56,000 new front loader, that would require an additional $6,500 for installation. The option X front loader has a 5 -year usable life, and will be depreciated under MACRS using a 5-yrear recovery period. Option Y cost $64,000 to purchase and $7,000 to install. It will also be depreciated under MACRS using a 5 -year recovery period. Pursuing option X would entail a $5,000 increase in net working capital; Pursuing Option Y would result in a $7,000 increase in net working capital. EBDIT for each option is given below Earnings before depreciation, interest, and taxes The current front loader can be sold today for $15,500. Alternatively it could be sold five years from now for $3,000, (at which point it will be fully depreciated). The Option X front loader can be sold for $10,000 at the end of five years while the Option Y front loader can be sold for $18,000 at the end of the five year period. The company is subject to a 40% tax rate. The company's discount rate is 10%. Calculate the Payback Period, NPV, IRR, and MIRR for both machines. Which Crane should the company purchase and why? Question 2 Staten Island Construction Company has decided to purchase a new front loader to replace their existing front loader. The existing machine is 3 years old, and had an original cost of $42,000. This current machine is being depreciated under MACRS using a 5-year recovery period. Although the current front loader has only three years of depreciation remaining under MACRS, it has a remaining usable life of 5 years. The company is considering one of two options. The first option, Option X, would require the purchase of a $56,000 new front loader, that would require an additional $6,500 for installation. The option X front loader has a 5 -year usable life, and will be depreciated under MACRS using a 5-yrear recovery period. Option Y cost $64,000 to purchase and $7,000 to install. It will also be depreciated under MACRS using a 5 -year recovery period. Pursuing option X would entail a $5,000 increase in net working capital; Pursuing Option Y would result in a $7,000 increase in net working capital. EBDIT for each option is given below Earnings before depreciation, interest, and taxes The current front loader can be sold today for $15,500. Alternatively it could be sold five years from now for $3,000, (at which point it will be fully depreciated). The Option X front loader can be sold for $10,000 at the end of five years while the Option Y front loader can be sold for $18,000 at the end of the five year period. The company is subject to a 40% tax rate. The company's discount rate is 10%. Calculate the Payback Period, NPV, IRR, and MIRR for both machines. Which Crane should the company purchase and why