Acme Appliances plans to update their manufacturing capacity with new machinery according to the forecasted data shown in the following table. Compute the future worth of this endeavor.
Initial Cost: $118,000
O&M Cost (1st 4 years): $5,000
O&M Cost Increase (Years 5+): $500 per Year
Projected Annual Revenues: $35,000
Salvage Value: 5% of Initial Cost
MARR: 15%
Useful Life: 12 Years