Current Attempt in Progress Sheridan Inc. is considering modernizing its production facility by investing in new equident and selling the old equipment. The following information has been collected on this investment: Old Equipment New Equipment Cost $80,000 Cost $39.000 $40,000 Estimated useful life 8 years Accumulated depreciation Remaining life Current salvage value 8 years Salvage value in 8 years $4,400 $9.800 Annual cash operating costs $29,000 Salvage value in 8 years $O Annual cash operating costs $35,000 Depreciation is $10.000 per year for the old equipment. The straight-line depreciation method would be used for the new ruiment over an eight-year period with salvage value of $4,400 Calculate the net present value assuming a 15% rate of return. (Ignore income taxes.) Of the net present value is negative, use either a negative sign preceding the number eg. 45 or parentheses eg. (45). For calculation purposes, use 5 decimal places as displayed in the factor table provided, eg. 1.25124 and final answer to decimal places, e.g. 5,275) Click here to view the factor table. Net present value S 10637.6 e Textbook and Media Solution Attempts: 3 of 4 used Submit Answer Saveyor cate