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) 2 ) Discount factor (14%) (b) 1.000 2 Present value of cash flows (a)x(b) Net present value Use the formulas from Appendix 13B: Present value of $1-1(1+r) Present value of an annuity of $1-(1(111+)n) where n is the number of years and r is the discount rate xl Chapter-13C-Excel-Form 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) 2 ) Discount factor (14%) (b) 1.000 2 Present value of cash flows (a)x(b) Net present value Use the formulas from Appendix 13B: Present value of $1-1(1+r) Present value of an annuity of $1-(1(111+)n) where n is the number of years and r is the discount rate xl Chapter-13C-Excel-Form