Henredon purchases a high-precision programmable router for shaping furniture components for $190,000. It is expected to last 12 years and have a salvage value of $5,000. Henredon will borrow $100,000 at 13.0% over 6 years, paying only interest each year and paying all the principle in the sixth year. It will produce $45,000 in net revenue each year during its life. All dollar amounts are expressed in real dollars. Depreciation follows MACRS 7-year property, taxes are 25%, the real after-tax MARR is 10%, and inflation is 3.9%.

Determine the actual after-tax cash flows for each year. ATCF 0=$ ATCF 1=$ ATCF 2=$ ATCF3=$ ATCF4=$ ATCF 5=$ ATCF6=$ ATCF 7=$ ATCF 8=$ ATCF 9=$ ATCF 10=$ ATCF 11=$ ATCF 12=$ b. Determine the PW of the after-tax cash flows. PW$T=$ c. Determine the AW of the after-tax cash flows. AW$T=$ d. Determine the FW of the after-tax cash flows. FW5T=$ e. Determine the combined IRR of the after-tax cash flows. IRcc= % f. Determine the combined ERR of the after-tax cash flows. ERRC= g. Determine the real IRR of the after-tax cash flows. IRRr= h. Determine the real ERR of the after-tax cash flows. ERRr=