Currently, your firm plans on depreciating an upcoming projects equipment from an initial value of $800k to a final book value of $100k over a 10 year period. Youve been asked to value a possible change in the depreciation scheme which will accelerate this process by depreciating the machine over a 6-year period (lets assume this is legal to do). If you accelerate depreciation, you will still be depreciating to a final book value of $100k (there simply wont be any depreciation after year 6). If the projects discount rate is 12% and the firms tax rate is 35%, by how much will the projects NPV change if you switch to the accelerated depreciation schedule?

Please show all calculations and steps, even if using excel. Thanks.