5 Marasco Corporation has provided the following information concerning a capital budgeting project Investment required in equipment $ 80,000 Salvage value of equipment $ @ Expected life of the project Annual sales $ 220,000 Annual cash operating expenses $ 160,000 One-time renovation expense in year 3 $ 30,000 4 nts 00:48:01 . The income tax rate is 30% . The after-tax discount rate is 13%. The company uses straight-line depreciation on all equipment, the annual depreciation expense will be $20,000 Assume cash flows occur at the end of the year except for the initial investments. . The company takes income taxes into account in its capital budgeting. Use the Present Value of $1 Table: Click here to view Exhibit 148-1 to determine the appropriate discount factor(s) using table The net present value of the project is closest to