Exercise 9-13. Golden Valley Fishing Company is contemplating the purchase of a new smoker. The smoker will cost $57,000 but will generate additional revenue of $34,300 per year for 6 years. Additional costs, other than depreciation, will equal $14,210 per year. The smoker has an expected life of 6 years, at which time it will have no residual value. Golden Valley uses the straight-line method of depreciation for tax purposes. Determine the net present value of the investment if the required rate of return is 15 percent and the tax rate is 40 percent. Enter your answers as amounts only with neither commas nor decimals ROUNDED TO THE NEAREST DOLLAR. e.g., 8599.99 is rounded to 8600. Problem 9-7. Adrian Sonnetson, the owner of Vermillion Motors, is considering the addition of a paint and body shop to his automobile dealership. Construction of a building and the purchase of necessary equipment is estimated to cost $784,400, and both the building and equipment will be depreciated over 10 years using the straight-line method. The building and equipment have zero estimated residual value at the end of 10 years. Sonnetson's required rate of return for this project is 12 percent. Net income related to each year of the investment is as follows: Revenue $657,600 Less: Material 69,100 cost Labor 153,638 Depreciation 78,440 Other 8,000 Income before 348,422 taxes Taxes at 40% 139,369 Net income $209,053 Determine the net present value of the investment in the paint and body shop. Enter your answers as amounts only with neither commas nor decimals ROUNDED TO THE NEAREST DOLLAR eg 8599 99 is