Due to growing membership, a food hub in Western Georgia is considering building a refrigerated warehouse for produce. The new facility would increase real annual operating expense by $7,600 due to utilities, maintenance, and additional labor. The increased capacity and improved produce shelf life from the facility will help the food hub increase real operating receipts by $51,900 per year. The refrigerated warehouse would be 2500 square feet and it would cost $170 per square foot to build. Suppose that the food hub wanted to evaluate this investment over a ten-year period of time. The food hub anticipates that the cold storage facility could be sold for $390,000 in ten years. The food hub expects that their marginal tax rate over the next eleven years will be 20%. The IRS will allow the food hub to depreciate the investment using straight line over 30 years. Assume that the real terminal value of this investment is $390,000 at the end of ten years. The food hub will require a 10% return to capital (pretax, has a risk premium of 2% and inflation is 2%. (i) What is the after-tax, risk adjusted discount rate? (ii) What is the nominal after-tax net return at the end of year 5? (iii) What is the annual tax saving? (iv) What is the nominal after-tax terminal value? (v) What is the present value of the nominal after-tax terminal value?