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Part 2. Show your work. Q12. (10 marks) ABC Ltd is contemplating a new, mechanized welding system to replace a current manual system. It costs $600,000 to get the new system. The cost will be depreciated at a 30 percent CCA rate. Its expected life is four years. The present value of the tax shield on the CCA is $151,327.78. The system would actually be worth $100,000 at the end of four years. The new system could save the firm $180,000 per year pretax in labour costs. The required return is 10 percent. The tax rate is 40 percent. What is the NPV of buying the new system? Round your answer to the nearest integer