question #12-Present Value of Capital Budgeting Project l JKL Company is considering whether or not to spend money to refurbish some manufacturing equipment The equipment is going to last three more years regardless of whether JKL undertakes the refurbishment or not. The cost of the work is $125,000, and assume that cash outlay occurs on January 1, 20X1. By refurbishing the equipment, the savings in cash paid for utilities and other manufacturing costs would go down by $50,000 each year for the three remaining years of the life of the equipment JKL uses a 9% discount rate in its analysis of projects like this one Using the time value of money analysis tools you've learned in this course, calculate the net present value of this refurbishment option. In other words, what is the net of the present values of the related cash inflows and outflows of the project? Assume that the savings in manufacturing costs each year occur on December 31 That isn't a realistic assumption of course, but it simplifies the analysis. Also-if your answer is negative, input your answer with a "minus" sign in front of the dollar amount Your answer should be rounded to the nearest full dollar (ie, no cents) (Euture Value of S1. Eresent Value of S1. Euture Value Annulty.of $1. Present Value Annuty of Si