5) New equipment costs $999,000 and is expected to last for five years with the salvage value of 13% of the equipment cost. During this time the company will use a 20\% CCA rate. The new equipment will save $380,000 annually before taxes. If the company's required rate of return is 5.35%, determine the PVCCATS of the purchase. Assume a tax rate of 35\%. Please show all the calculations by which you came up with the final answer. (4 Points)