04:10 Gaston Company is considering a capital budgeting project that would require a $2,200,000 Investment in equipment with a useful life of five years and no salvage value. The company's tax rate is 30% and its after-tax cost of capital is 12%. It uses the straight-line depreciation method for financial reporting and tax purposes. The project would provide net operating income each year for five years as follows: Sales Variable expenses Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs Depreciation k Total fixed expenses Net operating income $ 3,000,000 1,660,000 1,340,000 $520,000 440,000 960,000 $380,000 ences Click here to view Exhibit 148-1 and Exhibit 148-2. to determine the appropriate discount factor(s) using tables. Required: Compute the project's net present value. Net present value