(3) Washington Mill Works is considering purchasing a large resawing band saw for $30,000. The saw has a useful life estimated to be seven years, at which point it will have an estimated salvage value of $8,000. Annual income each year for the 7 years is $9000. Annual operating expenses are $3,000. Assuming an interest rate (MARR) of 7.5%, determine the equivalent present worth of this seven years of cash flows. Draw a cash flow diagram