Gaston Company is considering a capital budgeting project that would require a $$3,300,000$ investment in

equipment with a useful life of five years and no salvage value. The company's tax rate is $30\%$ and its after$-$tax

cost of capital is $12\%.$ It uses the straight$-$line depreciation method for financial reporting and tax purposes.

The project would provide net operating income each year for five years as follows: