4. (30 Marks) Earthworks is an excavation company which started its operations in the year 2008. The board of governors set the Minimum acceptable rate of return for the company at 12% after-tax. Due to the nature of their work, Earthworks own equipment which are in CCA class 8 (CCA rate = 20%). For the 5 years following its inception, Earthworks purchased 4 Machines, two of which they ended up selling. The record of their transactions is as summarized below: Transaction Dollar Value of transaction Tax Year 2008 Purchase of Machine A $70,000 2009 . $145,000 2010 Purchase of Machine B Sale of Machine A Purchase of Machine C $30,000 2010 $90,000 2011 $55,000 Sale of Machine B. Purchase of Machine D 2012 $85,000 a) What is the remaining Undepreciated Capital cost at the end of year 2012? b) What is the equivalent annual worth of the tax savings associated with these transactions if the corporate tax rate is 30%