Crane Corp. is considering purchasing one of two new processing machines. Either machine would make it possible for the company to produce its products more efficiently than it is currently equipped to do. Estimates regarding each machine are provided below: Machine A Machine B Original cost $112,600 $269,000 Estimated life 10 years 10 years -0 -0 Salvage value Estimated annual cash inflows $29,800 $60,600 Estimated annual cash outflows $7,600 $15,100 (a) Your answer is correct Calculate the net present value and profitability index of each machine. Assume an 8% discount rate. (Round present value factor calculations to decimal places, c.8. 1.25124 and the final answer to 2 decimal places es. 589.71. Enter negative amounts using either a negative sign preceding the number 08-45.35 or parentheses es. (45.354 Machine A Machine B Net present value $ 36,36422 $ 36,309.60 Profitability index 1.32 113 Which machine should be purchased? Crane Corp, should purchase Machine e Textbook and Media Attempts: 1 of 3 used Crane Corp.did some further research and found one other possible machine that would produce the same type of production efficiencies. The information regarding Machine C is below: Machine C Original cost $256,600 Estimated life 10 years Salvage value $29,800 Estimated annual cash inflows $45,400 Estimated annual cash outflows $10,100 Calculate the net present value and profitability index for Machine C. Use an 8% discount rate (Round present value factor calculations to 5 decimal places, es. 1.25124 and the final answer to 2 decimal places eg. 589.71. Enter negative amounts using either a negative sign preceding the number eg.-45.35 or parentheses e.g. (45.35).) Net present value -5.931.11 Profitability index 0.98 Rank the investments based on net present value. Rank Machine A > Machine B