You are given the following information for replacement project for machines.each machine currently in use has book value of $1 million and would continue to be depreciate in straight line basis value of over 5 next years.the plant engineer estimate that the old machines could be us as many as 10 more years. the purchase price for the new machine is $5 million apiece,which would be depreciate over a 10 years period on a straight line basis to a net book value of $500000 each.each new machine is expected to produce a pretax operating saving of $1.5 million per yer over the machine it would replace.you estimate that you could sell old machine for $250,000. installation of each machine would be expected to cost $600000 in addition to the purchase price.of this amount $500000 would be capitalized in the same way as the purchase price and the remaining $100000 would be expensed immediately. the increases inventory and account payable cause a required increased net working capital of W$20000.The tax rate is 4% {a} What is the npv of the new project.{B}compute the net inirtial outlay