Is the following project justified? Perform the analysis (you can use PW) twice: a before-tax analysis (like we've been doing all semester) and an after-tax analysis. Does the conclusion change? . . Initial cost of $300,000. Annual gross income of $200,000 Annual expenses of $80,000 3-year MACRS property life (meaning that income and expenses occur for 3 years, but MACRS depreciation lasts 4 years) Income tax-rate (itr) of 35% Before-tax MARR = 8% . Then, assume that the $300,000 was borrowed from the bank, and this loan will be repaid in equal amounts yearly. Perform the after-tax analysis. Is the following project justified? Perform the analysis (you can use PW) twice: a before-tax analysis (like we've been doing all semester) and an after-tax analysis. Does the conclusion change? . . Initial cost of $300,000. Annual gross income of $200,000 Annual expenses of $80,000 3-year MACRS property life (meaning that income and expenses occur for 3 years, but MACRS depreciation lasts 4 years) Income tax-rate (itr) of 35% Before-tax MARR = 8% . Then, assume that the $300,000 was borrowed from the bank, and this loan will be repaid in equal amounts yearly. Perform the after-tax analysis