Enter a formula into each of the cells marked with a ? Below Exhibit 13-6 Calculate the annual tax payment: Years Sales Revenues Cost of goods sold Depreciation expense Out-of-pocket operating costs Overhaul of equipment in four years Salvage value of the equipment ncremental Net Income (a) Income Tax Rate (b) Income Tax Expense (a) x (b) Calculate the net present value: Years Now 4 Purchase of equipment nvestment in working capital Sales Revenues Cost of goods sold Out-of pocket operating costs Overhaul of equipment in four years Salvage value of the equipment Working capital released Income Tax Expense Total cash flows (a) | Discount factor (14%) (b) Present value of cash flows (a)x(b) Net present value 1000 2 Use the formulas from Appendix 13B: Present value of $1-1/(1+r)^n Present value of an annuity of $1- (1/(111+) n) where n is the number of years and r is the discount rate Chapter-13C-Excel-Form.. Page 63 You should proced to the inirmment below only ather completing your worksheet Note that yos may got a sli ghahy diffecent set present valc fom that shown in the tos due to the precision of the calculations Required your woksheet and The company is considering another peoect isvoing the parchase of sew equipment Change the data atca offyur wokhnt to match the followsing Example E 120000 80 000 40000 255 000 160 000 $50 000 Cost of gods b Experiment with changincnt rate in one pescent 109% aal is, between 11 menalrate ofnhrs is bemees what heo whole duasnt mtes(e1.berteen