(Time allowance: 12 minutes) This is a replace now or later problem; however, the question asked is only about one part of the analysis. Do not solve the entire problem, only the part asked below. You are facing a decision of whether to replace an old equipment at your factory. If the new equipment is purchased, the old equipment can be sold today for $12. However, if the old equipment is not replaced today, it will continue to be depreciated down to zero using straight-line method over its remaining 4 years. The remaining book value today of the old equipment is 56. It is estimated that the old equipment can be sold for $3 in one year (at the end year 1). The pre-tax maintenance cost (expenses) per year for the old equipment will be $9. Assume that the discount rate is 9% and the tax rate is 40%. For your answer, round to nearest dollar and do not use the dollar ($) sign, do not enter decimals. For example if your answer is -$12.534 then enter-13; if answer is $23.7459 then enter 24, if the answer is -S40 then enter -40 The NPV (at the end of year 1) for the replace 1-year later decision is