0(x10 Ans 4. A project requires depreciable investment of 0.5 MS for following table: investment of 1.5 MS which has no salvage value and a non- r land. Depreciation will be over 4 years, according to the Depreciation End year Fractional depreciation 0.4 0.3 0.2 0.1 2 A combined (federal and state) tax rate of 46% is applicable, and the sales revenue and cost of manufacturing exclusive of depreciation is: End year Sales, MS 0.3 0.75 0.9 0.9 0.9 Expenses, MS 0.2 0.25 0.3 0.3 0.3 2 Find the discounted cash flow rate of return (DCFROR) using discrete annual interest