Calculate the present value and equivalent annual cost

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Question - ABC Ltd. must decide whether to replace an existing machine. The company do not currently pay taxes. The replacement machine costs $9000 now and requires maintenance of $1000 at the end of every year for eight years. At the end of 8 years the machine would be sold for $2000 (after any taxes). The existing machine requires increasing amounts of maintenance at the end of each year and its salvage value falls each year as shown:

Year

Maintenance Cost ($)

After-tax Salvage Value

0

0

4000

1

1000

2500

2

2000

1500

3

3000

1000

4

4000

0

The existing machine will last 4 more years before it falls apart (i.e. salvage value at the end of year 4 is zero). The company has a required rate of return of 15%.

Required -

A. Calculate the present value and equivalent annual cost of the new machine?

B. Calculate the cost of keeping the old machine for 1 year and then replacing it?

C. Recommend the best course of action for ABC Ltd, explaining your answer?

Reference no: EM132718079

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