You are evaluating two machines. Machine I costs $240,000 and it has a three-year life. It has pre- tax operating costs of $60,000 per year. Machine Il costs $450,000 and it has a five-year life. It has pre-tax operating costs of $40,000 per year. For both machines, we use straight-line depreciation to zero over the machine's life. The pre-tax salvage value of Machine I is $50,000 at the end of its life. The pre-tax salvage value of Machine II is $150,000 at the end of its life. The marginal tax rate is 30% and the appropriate discount rate is 10%. (1) What is the NPV of investing in each machine? (12 points)