Project Management-ACompany is considering the purchase of a new robotic micro-welding machine

ACompany is considering the purchase of a new robotic micro-welding machine to be used in the production of various metal desktop memorabilia (statuettes, paper weights, business card holders, etc.) it sell to fans. The machine costs $725,000 (including installation and testing). The vendor estimates it will take about 12 months to design, produce and install the welding machine from the date it is ordered. The machine will be ready for full production after that date. The vendor requires the purchase of a $70,000 annual maintenance contract with this machine. The maintenance contract covers all anticipated costs of operating the welding machine.Your manufacturing plant manager has estimated the company will save $290,000 a year in overtime pay by switching to the robotic welding process.AssignmentThe CFO wants you to determine if such a purchase is financially viable for the company. She has stated the projected costs and benefits for this project are to be spread over five years. Further, she said ACompany’s current opportunity cost of capital is 7%.Use the format provided in Figure 4-5 in the text as a template to display your analysis. Be sure to highlight the following:1. NPV2. Year when payback occurs (or note that payback is not reached within 5 years)3. ROIIn a sentence, would you recommend investing in this project, based on your financial analysis?