2. Turton 4th, Prob. 10-10. The following expenses and revenues have been estimated for a new project (all numbers are in $10): Revenues from sales-$4.1 /y Cost of manufacturing (excluding depreciation)-$1.9 /y Taxation rate= 40% Fixed capital investment $7.7 (two payments of $5 and $2.7 at the end of years 1 and 2, respectively) Start-up at the end of year 2 Working capital- $2 at the end of year 2 .Land cost- $0.8 at the beginning of the project (time-0) Project life (for economic evaluation) 10 y after start-up For this project, estimate the NPV of the project assuming an after-tax internal hurdle rate of 11% pa., using the following depreciation schedules: a. MACRS method for 5 years b. Straight-line depreciation with an equipment life (for depreciation) of 9.5 years