Consider a project with an initial investment of $50,000, a 7 year useful life (and study period), and a $10,000 salvage value. You expect an annual net revenue of $15,000 (before tax), a MARR before tax of 15%, and an effective tax rate of 35%. The capital equipment is to be depreciated using MACRS ADS and a 4 year class life. Using after-tax cash flow analysis, determine if this is a good investment, please don't use Excel. Draw cash flow diagrams TABLE 7-3 GDS Recovery Rates (r) for the Six Personal Property Classes Recovery Period (and Property Class) Year 3-yeara 5-yeara 7-yeara 10-yeara 15-yearb 20-yearb 0.3333 0.2000 0.1429 0.1000 0.0500 0.0375 0.4445 0.3200 0.2449 0.1800 0.0950 0.0722 0.1481 0.1920 0.1749 0.1440 0.0855 0.0668 0.0741 0.1152 0.1249 0.1152 0.0770 0.0618 0.1152 0.0893 0.0922 0.0693 0.0571 0.0576 0.0892 0.0737 0.0623 0.0528 0.0893 0.0655 0.0590 0.0489 0.0446 0.0655 0.0590 0.0452 0.0656 0.0591 0.0447 0.0655 0.0590 0.0447 0.0328 0.0591 0.0446 0.0590 0.0446 0.0591 0.0446 0.0590 0.0446 0.0591 0.0446 0.0295 0.0446 0.0446 0.0446 0.0446 0.0446 0.0223