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5 Part B: [10 Marks) Zaire Electronics can make either of two investments at time 0. Assuming a required rate of return of 14 percent, determine for each project (a)the net present value. (b) the internal rate of return. Assume under MACRS the asset falls in the five-year property class and that the corporate tax rate is 34 percent. The initial investments required and yearly savings before depreciation and taxes are shown below: End of Year Project Investment 2 3 4 6 7 A 30000 8000 8000 8000 8000 8000 8000 8000 B 25000 6000 6000 6000 6000 7000 7000 7000 MACRS DEPRECIATION BY CLASS OF PROPERTY Year 3-year 5-year 7-year 33.33% 20.00% | 14.29% 2 44.45 32 24.49 3 14.81 19.2 17.49 4 7.41 11.52 12.49 5 11.52 8.93 6 8.92 7 8.93 8 4.46 1 5.76