4. (9 points) Ro binson Brothers, Inc. is considering investing in a machine to produce computer keyboards price of the machine will be $400,000 and its economic life is four years. The machine w depreciated by the straight-line method. The machine will reduce 10,000 units of keyboards eac year. The price of the keyboard will be $50 in the first year of sales and it will increase 5 percent per year. The production cost (excluding depreciation expenses) per unit of the keybo first year and it will increase at 10% per year. The corporate tax rate for the com . The ill be fully ard will be $20 the pany is 34 percent. a) What are the after-tax free cash flows associated with this project? (5 points) 3 Revenues Operating Costs Depreciation | EBIT Tax on Operating Profits NOPAT Depreciation OCF Initial Investment FCF b) If the appropriate discount rate is 15 percent, what is the NPV of the project? (2 points) c) What is the IRR of this project? (2 points)