9. Assume a $100,000 piece of equipment is depreciated for tax purposes over three years as follows: $50,000 in year 1, $30,000 in year 2, and $20,000 in year 3. Compute the present value after-tax cost to purchase the machine if the firm's tax rate is 35% and its after-tax cost of capital is 10% (assume the machine is purchased at the beginning of the year and tax savings occur at the end of the year). Extension: Contrast the computed cost of the machine if the entire acquisition price can be deducted in the first year for income tax purposes