I need help with this in the next 25 minutes

In—Class Case #12BChapter 12 Storey, Inc. is considering the purchase and installation of new manufacturing equipmentto replace its old, wom-out equipment. The following information is available. 1. 9391:5991" .'4 8. Useful life of the new equipment, 8 years, depreciated according to the followingIRS schedule: Year 1 20.0% Year 4 11.5%Year 2 32.0% Year 5 11.5%Year 3 19.2% Year 6 5.8% Cost of new equipment, $3,000,000. Cost to set up new equipment, $600,000. Estimated selling price of the new equipment at the end of its useful life, $30,000.Annual operating savings, $800,000. Working capital investment required is $750,000. This amount will be released atthe end of the project. The cost of the old equipment is $900,000. The accumulated depreciation is$500,000. The expected selling price is $350,000. Tax rate is 25%. Cost of capital is 10%. Required: Should Storey invest in the new equipment?