7. Jakob Corporation has the following information pertaining to the purchase of a new piece of equipment: Cash revenues less cash expenses $55,000 per year Cost of equipment $190,000 Salvage value at the end of the 10th year $25,000 Increase in working capital requirements $30,000 Tax rate 40 percent Life 10 years Cost of capital is 15 percent Required (use excel): a. Calculate the following assuming straight-line depreciation: i. Calculate the after-tax net income for each of the ten years. ii. Calculate the after-tax cash flows for each of the ten years. iii. Calculate the after-tax payback period. iv. Calculate the accrual accounting rate of return on original investment for each of the ten years. v. Calculate the net present value (NPV). vi. Calculate the internal rate of return (IRR). b. Calculate the following assuming that depreciation expense is $30,000, 527,000, $24,000, 521,000, 18,000, $15,000, $12,000 $9,000, $6,000 and $3,000 for years I through 10, respectively: 1. Calculate the after-tax cash flows for each of the ten years. ii. Calculate the after tax payback period lii. Calculate the net present value (NPV). iv. Calculate the internal rate of return (IRR)