$4.$ Calculate the annual net cash flow for Widget Company's Project A for the first year, given changes $($delta$)$ in the following values:

Revenues $=$ $$75000$

Operating Costs $=$ $$35000$

Depreciation $=$ $$15000$

Tax Rate $=40\%$

Net working capital$=10000$

Proceeds for sale of old equipment $=$ $$17000$

Marketing and Research Study $=$ $$20000$

Cost of capital $=9\%$

Group of answer choices

a$.$ $$37000$

b$.$ $$17000$

c$.$ $$33945$

d$.$ $$22000$

$5.$ How many years will it take to payback an investment of $$105,000$ given annual end$-$of$-$year cash flows of: $$30,000,$ $$10,000,$ $$35,000,$ $$40,000,$ $$50,000?($Assume your client wants to consider nominal dollars rather than discounted dollars in the payback calculation.$)$