- Chevron Phillips (CP) has put into place new laboratory equipment for the production of chemicals; the cost is $1,730,000 installed. CP borrows 36% of all capital needed, and the borrowing rate is 11.4%. In the 1st year, 25% of the principal borrowed will be paid back. The throughput rate for in-process test samples has increased the capacity of the lab, saving a net of $X per year. In this 1st year, depreciation is $358,000 and taxable income is $310,000 Click here to access the TVM Factor Table Calculator Click here to access the MACRS-GDS table. Parta What is the gross income or annual savings $X $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is 150. Attempts: 0 of 3 used