Bradley Corporation has the following information about the purchase of a new piece of equipment: Cash revenues less cash expenses Cost of equipment $170,000 per year $600,000 Salvage value at the end of the 8th year $60,000 Increase in working capital requirements $120,000 Tax rate 30 percent 9 years Life The cost of capital is 13 percent. Required (use Excel): a. Calculate the following assuming straight-line depreciation: i. Calculate the after-tax net income for each of the nine years. ii. Calculate the after-tax cash flows for each of the nine years. iii. Calculate the after-tax payback period. iv. Calculate the accrual accounting rate of return on original investment for each of the nine years. v. Calculate the net present value (NPV). vi. Calculate the internal rate of return (IRR). b. Calculate the following assuming that the company is using the seven-year MACRS half-year convention without a salvage value: 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).