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ABC Pty Ltd is a not-for-profit organisation that employs only people with physical or intellectual disabilities. One of the organisation's activities is to make biscuits for its snack food store. At the end of year 1, ABC Pty Ltd purchased a biscuit-cutting machine. This machine has now been used for three years. Management is considering the purchase of a newer, more efficient machine. If purchased, the new machine would be acquired at the end of year 4. Management expects to sell 300,000 boxes of biscuits in each of the next six years. The selling price is expected to average $1.15 per box. ABC Pty Ltd has two options: continue to operate the old machine, or sell the old machine and purchase the new machine. No trade-in was offered by the seller of the new machine. The following information has been assembled to help management decide which option is more desirable: Old Machine 100,000 8 Years New Machine 150,000 8 Years Orignial Cost of Machine at Acquisition Remaining Useful Life Expected Annual Cash Operational Expenses Variable Cost per Box Total Fixed Costs Estimated Cash Value of Machines End of Year 4 End of Year 10 $0.35 $20,000 $0.26 $10,000 $50,000 $10,000 150,000 $30,000 Assume that all operating revenues and expenses occur at the end of the year. Required: 1. Use the net present value method to determine whether ABC Pty Ltd should retain the old machine or acquire the new machine. The organisation's required rate of return is 12%. (5 marks) 2. Independent of your answer to requirement 1, suppose the quantitative differences between the two alternatives are so slight that management is indifferent between the two proposals. Identify and discuss any qualitative factors that management should consider. (3 marks) ABC Pty Ltd is a not-for-profit organisation that employs only people with physical or intellectual disabilities. One of the organisation's activities is to make biscuits for its snack food store. At the end of year 1, ABC Pty Ltd purchased a biscuit-cutting machine. This machine has now been used for three years. Management is considering the purchase of a newer, more efficient machine. If purchased, the new machine would be acquired at the end of year 4. Management expects to sell 300,000 boxes of biscuits in each of the next six years. The selling price is expected to average $1.15 per box. ABC Pty Ltd has two options: continue to operate the old machine, or sell the old machine and purchase the new machine. No trade-in was offered by the seller of the new machine. The following information has been assembled to help management decide which option is more desirable: Old Machine 100,000 8 Years New Machine 150,000 8 Years Orignial Cost of Machine at Acquisition Remaining Useful Life Expected Annual Cash Operational Expenses Variable Cost per Box Total Fixed Costs Estimated Cash Value of Machines End of Year 4 End of Year 10 $0.35 $20,000 $0.26 $10,000 $50,000 $10,000 150,000 $30,000 Assume that all operating revenues and expenses occur at the end of the year. Required: 1. Use the net present value method to determine whether ABC Pty Ltd should retain the old machine or acquire the new machine. The organisation's required rate of return is 12%. (5 marks) 2. Independent of your answer to requirement 1, suppose the quantitative differences between the two alternatives are so slight that management is indifferent between the two proposals. Identify and discuss any qualitative factors that management should consider