4) Mill Inc. is considering replacing a machine that has been used in its factory for four year. Relevant data associated with the operations of the old machine and the new machine, neither of which has any estimated residual value, are as follows: Old Machine Cost of machine, 10-year life Annual depreciation (straight-line) Annual manufacturing costs, excluding depreciation $95,000 11,000 28,000 Annual nonmanufacturing operating expenses Annual revenue Current estimated selling price of machine 8,000 25,000 New Machine Purchase price of machine, six-year life Annual depreciation (straight-line) Estimated annual manufacturing costs $130,000 20,000 6,000 Excluding depreciation Annual nonmanufacturing operating expenses and revenue are not expected to be affected by the purchase of the new machine. (15 points)