Although the Chen Company's milling machine is old, it is still in relatively good working order and would last for anot

[answerhappygod]

Although the Chen Company's milling machine is old, it is stillin relatively good working order and would last for another 10years. It is inefficient compared to modern standards, though, andso the company is considering replacing it. The new millingmachine, at a cost of $108,000 delivered and installed, would alsolast for 10 years and would produce after-tax cash flows (laborsavings and depreciation tax savings) of $19,000 per year. It wouldhave zero salvage value at the end of its life. The project cost ofcapital is 11%, and its marginal tax rate is 25%. Should Chen buythe new machine? Do not round intermediate calculations. Round youranswer to the nearest cent