blem 3. Said Company is considering the purchase of a new piece of equipment for $45,000. The projected after-tax net income associated with this investment is $3,000 for each of the next three years. The company uses straight-line depreciation. The machine has a useful life of 3 years and no salvage value. Management of the company considers a 12% return on investment to be satisfactory. Note: You will be required to calculate. as part of your answer, the appropriate discount rate for a three-year annuity, at 12%) Required: 1) Calculate present value of cash flows for each year and complete the following schedule: Year After-tax Annual Annual After Present Value Present Value of Cash Depreciation Tax Cash Flows Net Income factors 1.000 0.893 0.797 0.712 Flows 0. 2) As indicated in the above schedule, what is the net present value (NPV) of this proposed investment