As the Director of a company, you are given the following information about the project. The company plans to purchase a new piece of equipment which would cost $500,000. This equipment will have a five-year useful life and have a salvage value of $12000 at the end of the five-year period. It is estimated that the company will be able to produce 10,000 units per year. The company also estimates the equipment will also have annual maintenance costs of $5,000 per year. The company estimates the selling price to be $30 each and the variable cost to be $10. Working Capital requirements for the project are as follows: Year 0 = $12,000Year 1 = $17,000Year 2= $65,000Year 3 = $17,000Year 4 = $8,000. It is estimated that at the end of the five-year period, the company will be able to sell the equipment for $60,000. The company has a 20% marginal tax rate and has a required rate of return of 15%. Would you accept this project?

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