Dominic Corporation has the following information about the purchase of a new piece of equipment: Cash revenues less cash expenses $380,000 per year Cost of equipment $1,200,000 Salvage value at the end of the 10th year Increase in working capital requirements Tax rate Life $100,000 $240,000 40 percent 10 years The cost of capital is 15 percent. Required (use Excel): a. Calculate the following assuming straight-line depreciation: i. Calculate the after-tax net income for each of the ten years. ii. Calculate the after-tax cash flows for each of the ten years. iii. Calculate the after-tax payback period. iv. Calculate the accrual accounting rate of return on original investment for each of the ten 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: i. Calculate the after-tax cash flows for each of the ten years. ii. Calculate the after-tax payback period. iii. Calculate the net present value (NPV). iv. Calculate the internal rate of return (IRR).