1. You are working on a bid to build two city parks a year for the next four years. This project requires the purchase of $185,000 of equipment that will be depreciated using straight-line depreciation to a zero book value over the 4-year project life. The equipment can be sold at the end of the project for $34,000. You will also need an initial investment of $20,000 in net working capital for the project. The fixed costs will be $18,000 a year and the variable costs will be $168,000 per park. All investments in net working capital will be recovered at the end of the project. Your required rate of return is 15 percent and your tax rate is 21 percent. What is the minimal amount you should bid per park?