Baron Corp has the following information about the purchase of a new piece of equipment:

Cash revenues less cash expenses $$90,000$ per year

Cost of equipment $$300,000$

Salvage value at the end of the $8$th year $$30,000$

Increase in working capital requirements $$60,000$

Tax rate $35$ percent

Life $9$ years

The cost of capital is $13$ percent. Calculate the following assuming that the company is using the seven$-$year MACRS half$-$year convention without a salvage value:

i$.$ Calculate the after$-$tax cash flows for each of the nine years.

ii$.$ Calculate the after$-$tax payback period.

iii. Calculate the net present value $($NPV$).$

iv$.$ Calculate the internal rate of return $($IRR$).$