You have the following information about the old machine replacement. Old Machine Initial cost =$200,000 10-year life Annual depreciation =$18,000 Purchased 5 years ago Book Value =$110,000 Salvage today =$130,000 Salvage in 5 years =$20,000 New Machine Initial cost =$300,000 5-year life Salvage in 5 years =0 Cost savings =$100,000 per year 3-year MACRS depreciation Required return 10% Tax rate =21% 3-Year MACRS Year 1 2 3 4 MACRS 0.3333 0.4445 0.1481 0.0741 If we buy the new machine, then we will sell the old machine. The old machine use the straight-line depreciation. The new machine use the MACRS depreciation. What are the Pro Forma Income Statements of selling the old machine today instead of in 5 years? Compute the NPV&IRR. What is NPV&IRR? Write the calculation process and the correct