15. Massey Machine Shop is considering a four-year project to improve its production efficiency. Six months ago, it contracted with Dr. Wright to provide a thorough study of whether there was a need for this four-year efficiency project. The report was delivered one month ago and its cost was $25,000. The report suggests that the company should go ahead with the project subject to Masseys financial analysis. Buying a new machine press for $450,000 is estimated to result in $120,000 in annual pretax cost savings. The press falls in the MACRS five-year class and it will have a salvage value at the end of the project of $85,000. At time 0, the press will also require an additional investment in inventory of $9,000, every other current accounts remain the same. If the companys tax rate is 20% and the discount rate is 12%, should the company accept the project? (30 pts). The MACRS schedule is as follows: Year 5-year Class 1 20% 2 32% 3 19.2% 4 11.52% 5 11.52% 6 5.76%