33. An investment of $800,000 is made in equipment that qualifi es as 3-year equipment for MACRS-GDS depreciation. The BTCF profi le for the investment is given below, including a $200,000 salvage value at the end of the 5-year planning horizon. A 40 percent tax rate applies and the after-tax MARR is 8 percent.

Determine the ATCF for each year and the after-tax PW, AW, IRR, and ERR.

EOY BTCF 0 2$800,000 1 100,000 2 200,000 3 300,000 4 400,000 5 700,000