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SevenDevils Corporation (Ticker: VIID) wants to replace equipment used to make tridents. The old equipment was purchased seven years ago and was to be used for 10 years. It cost $400,000 and is being depreciated using the 10-Year MACRs schedule. Revenues for the old machine for the coming year are expected to be $150.000 with an annual revenue inflation rate of 5% per year for the life of the project. Operating costs are 44% of revenues. Net working capital for the old machine currently stands at $35.000. Additional net working capital of 8% of the projected change in sales for the following year will be required annually if the firm continues to use the old equipment. The old equipment can be sold now for $90,000. If the old equipment is used for three more years, it can then be sold for $15,000 The new equipment can be purchased for $410,000 and will be used for 10 years. It will be depreciated using the 10-Year MACRs schedule, and it will generate revenues during its first year of operation of $200.000 with an annual revenue inflation rate of 5% per year for the life of the project. Operating costs will be 40% of revenues. Net working capital will increase by $10,000 initially. Additional net working capital of 8% of the change in projected sales for the following year will be required annually with the new equipment. The new equipment can be sold at the end of ten years for $12.000. The cost of capital for Seven Devils Corporation is 18.5 percent, and its marginal tax rate is 27%. a. Should SevenDevils Corporation replace the machine? b. What if the marginal tax rate was 20%? What if the marginal tax rate was 34%? c. What if revenues for the first year for the new machine were $175,000 and operating costs were 34% of revenues? Use the original tax rate of 27% in your analysis