3. At a cash cost of $357,200 Wrecked Auto Body Rebuilders, Inc., can acquire automatic medal cutting equipment that will save $101,500 in annual cash operating expenses (hint: reducing expenses is like a revenue). No salvage value is expected at the end of its five-year useful life. The income tax rate is 30%. Wrecked has a 11% cutoff rate when using a net present value analysis. i) Draw a cash timeline for this project. ii) Calculate (and show how you calculated) the after-tax cash flow for each year. iii) Compute the net present value of the after-tax cash flow and indicate whether it is positive or negative (round to nearest dollar.) iv) Based on your findings in (iii) should Wreck do the deal? Why or why not? Use a number in your answer. v. How would an increase in the tax rate affect both the calculation and the decision above? (Qualitative answer)