and incorrect from your previous an Problem 7C-3 (Algo) Income Toxes and Net Present Value Analysis [LO7-8) Lander Company has an opportunity to pursue a capital budgeting project with a five year time horizon After careful study, Lander estimated the following costs and revenues for the project Cost of equipment needed World cal seeded pate the equipment in the years Annual revenues and costs Sales revenus Variable expenses ed out of pocit operating costs 5420,00 $79.000 $ 27.500 5540,000 5275,000 5118,000 The piece of equipment mentioned above has a useful ide of five years and rero salvage value Lander uses straight-line depreciation for financial reporting and tax purposes. The company's tax rates 30% and its after-tax cost of capital is 10% When the project concludes in five years the working capital will be released for investment elsewhere within the company Click here to view Exhibt 78_1 and Exhibit 28-2. to determine the appropriate discount factors) using tables. Required: 1 Calculate the annual income tax expense for each of years through that will rise as a result of this investment opportunity 2. Calculate the net present value of this investment opportunity (Negative amounts should be indicated by a minus sign. Round your answer to the nearest whole dollar) Inc Yeart Ya Yea Y 18500 100 1 Ves 1900 100 10