31. You have been asked to analyze a new cost cutting initiative at your firm. The firm will need to invest $500,000 in new materials handling equipment. This equipment will be depreciated at a CCA rate of 20%. You expect to save $150,000 per year for five years if you undertake the project. The new equipment can be sold for $50,000 at the end of five years. Net Working Capital will rise by $20,000 at time zero but it will all be recovered at the end of the five years. The firm's tax rate is 24% and it wants to earn an 16% return. a. What is the answer to Step #1: b. What is the answer to Step #2: c. What is the answer to Step #3: d. What is the answer to Step #4: I e. What is the answer to Step #5: