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Clearview Systems Ltd. is considering the purchase of a new machine for $375,000. The firm's old machine has a book value of $50,000 but can be sold today for $20,000. The new machine will be subject to a CCA rate of 25 percent. It is expected to save an annual cash flow of $62,000 per year for 8 years through reduced fuel and maintenance expenses. The company will need to invest $12,000 in spare parts inventory (working capital) when they purchase the machine. At the end of the 8 years the company believes it can sell the machine for $40,000. Clearview Systems Ltd. has a 12 percent cost of capital and a 30 percent tax rate. [10]