3. Our company is considering buying a piece of new equipment to improve our production, saving costs. The equipment will cost $250,000, reduce costs by $82,000 / year. It has a lifespan of 6 years and zero salvage value. Our after-tax cost of capital is 10%. The tax rate is 25%. The initial investment is on Jan. 1. All other cash flows are at year- end. We use straight-line depreciation for income tax purposes. Present value tables are on pages 931-935. Calculate: Net Present Value Payback period After-tax internal rate of return (to nearest 1%) Which method would you use to decide whether to do a project (this project or any other), and why