Calligraphy Pens is deciding when to replace its old machine. The machine's current salvage value is $$3,000,000.$ Its current book value is $$1,775,000.$ If not sold, the old machine will require maintenance costs of $$705,000$ at the end of the year for the next five years. Depreciation on the old machine is $$355,000$ per year. At the end of five years, it will have a salvage value of $$150,000$ and a book value of $$0.$ A replacement machine costs $$4,600,000$ now and requires maintenance costs of $$375,000$ at the end of each year during its economic life of five years. At the end of the five years, the new machine will have a salvage value of $$740,000.$ It will be fully depreciated by the straight$-$line method. In five years, a replacement machine will cost $$3,600,000.$ The company will need to purchase this machine regardless of what choice it makes today. The corporate tax rate is $24$ percent and the appropriate discount rate is $8$ percent. The company is assumed to earn sufficient revenues to generate tax shields from depreciation. Calculate the NPV for the new and old machines.