Berlioz Electronics is considering a project that would require it to spend $600,000 on new equipment. The equipment is classified as five-year MACRS property. Berlioz expects to sell the equipment at the end of five years (time 5*) for $14,560. five-year MACRS Depreciation Rates Year 1 2 3 4 5 6 Rate 20.00% 3200% 19.20% 11.52% 11.52% 5.76% Pretax annual cost savings from this project are estimated at $380,000, growing at a rate of 8% per year. Working capital equal to $50,000 will be required to support the project at all times up to the project?s end (i.e., at times O through 5). Working capital expenditures are not tax deductible when made and only the difference between its cost and the proceeds are taxable/deductible. All of the working capital will be recovered at the end of the project (time 5*) for half of its cost. The equipment would occupy space for which Berlioz (the tenant) has no other conceivable use, but is leased under a noncancelable lease for five years at an annual rent of $60,000. Berlioz requires a 15% after-tax rate of return on projects such as this. Berlioz is in the marginal 40% income tax bracket with an average income tax rate of 35%. Required: Determine the Net Present Value of this project using the appropriate after-tax cash flows. Should Berlioz accept this project