You are considering replacing an old machine with a new one. The old machine was bought five years ago for $120,000 and is being depreciated (straight-line) for a zero-salvage value over a 15-year depreciable life. Its current market value is $60,000. The new machine, which will cost $150,000 (with installation cost), will be depreciated (again, on a straight-line basis) over a 10-year life with a $30,000 salvage value. The new machine is projected to increase revenues by $5,000 per year and reduce operating costs by $15,000 per year for the next 10 years. At the start of the project, an additional $20,000 in working capital will be required for [specific purposes]. The tax rate is 30%. A. The initial investment (t=0) relevant to this project is B. The after-tax operating cash flows (t-1-10) for each year is C. The terminal value of the project, which represents the value of the project at the end of its life, is D. Find NPV. Assume the Cost of Capital is 10% E. Decision-To Replace or Not to Replace, that is the question.