What would be the net present value?

mework Question 2 of 7 1/2 E Your answer is partially correct. Hillsong ing manufactures snowsuits. Hillsong is considering purchasing a new sewing machine at a cost of $2,45 million. Its existing machine was purchased five years ago at a price of $1.8 million; six months ago, Hillsong spent $55,000 to keep it operational. The existing sewing machine can be sold today for $241,835. The new sewing machine would require a one-time. $85,000 training cost. Operating costs would decrease by the following amounts for years 1 to 7: Year 1 2 3 $389.500 399.400 411,000 425,400 433.700 435.300 437.300 5 6 The new sewing machine would be depreciated according to the declining balance method at a rate of 20%. The salvage value is expected to be $379.500. This new equipment would require maintenance costs of 594,500 at the end of the fifth year. The cost of capital is 9% Clide here to view the factor table 412 o ere to search