\fExhibit 1443 Now Purchase of equipment ? lnve stme nt in working capital ? Sales Cost of goods sold Outofpocket operating costs Overhaul of equipment Salvage value of the equipment Working capital released Total cash ows [a] Discount factor {14%} {h} Present value ofcash ows[a1x|[h} Net present value '13 '13 \"J '13 *Use the formulas from Appendix 13E}: Present value of$'1 =1!['l+r}\"n Present value of an annuity.r of$1 = [1!r}*|['l|[1I['l+r}r\"n}} where n is the number ofyears and r is the discount rate '13 '13 '13 '13 '13 '13 '13 '13 '13 '13 a. What is the net present value ofthe project? [Negative amount should be indlootocl by a l'l'lll'lLll- slgn. Round your present. value honor to 3 decimals and round all other Intermediate ooloulotlorls Io- noorost whole dollar.) :2. The internal rate of return is between what Mo whole discount rates leg. between 10% and 1113i:L between 11% and 12%h between 12% and 1396. between 13% and 1496. etc}? d. Reset The discount rate tb1296t Suppose the salvage value is uncertain. How large would the salvage value have to be to result in a positive net present value