Vaughn Cleaners is considering replacing one of its tired cleaning machines for a new model that can dry$-$clean clothes in half the

time of the old machine. Both the book value and the salvage value of the current machine are $$2,620$; the current machine

would be sold if the new machine is purchased. The new machine would cost $$21,100$ and is expected to last $15$ years, at which

point it would be sold for its salvage value of $$2,110.$ It would generate additional net operating cash flows of $$4,630$ each year

of its useful life. Vaughn Cleaners estimates its tax rate to be $25\%,$ while its required rate of return is $8\%.$