Question $3$: $(15$ Marks$)$ Payroll Inc. Office Services is considering the purchase of a new computer system to replace the one in operation. Data on the new computer system are as follows: If the existing computer system is kept and used, it would require the purchase of additional hardware a year from now costing $\backslash (\backslash$$ $2,000\backslash ).$ After the use of the system for $5$ years, the salvage value would be $\backslash (\backslash$$ $300\backslash ).$ Additional information on the existing system is as follows: The company uses the straight$-$line method of depreciation. Required: Complete a Net Present Value analysis, and recommend whether or not the new system should be purchased.

Please solve using the NPV Analysis table provided below in second image