Question: please USE EXCEL to solve this and show formulas. thank you! 3. Two computer controlled milling machines are being considered by the production department of

please USE EXCEL to solve this and show formulas. thank you!

3. Two computer controlled milling machines are being considered by the production department of ACME Manufacturing and one of them has be selected. Comparison data is shown in the table below: Mill T Mill M Initial Investment $20,000 $30,000 Estimated Life 10 years 10 years Salvage Value $ 5,000 $ 7,000 Annual Operating Revenues $12,000 $14,000 Annual Maintenance Costs $ 2.000 $ 2.000 If MARR = 16%, using the incremental Rate of Return Method of analysis, determine which drill press should be selected

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