Lanaer company nas an opportunity to pursue estimated the following costs and revenues for the project a captai Duageting project witn a nve-year ume norzon. Ater carerui stuay, Lancer Cost of equipment Working capital needed Repair the equipment in tvo years Annual revenues and costsi Sales $420,000 79,000 27,500 $540,000 $275,000 $118,000 The piece of equipment mentioned above has a useful life of five years and zero salvage value. Lander uses straight-line depreciation for financial reporting and tax purposes. The company's tax rate is 30% and its after-tax cost of capital is 10%. When the project concludes in five years the working capital will be released for investment elsewhere within the company Click here to view and Exhibit 138-2. to determine the appropriate discount factor(s) using tables. 1. Calculate the annual income tax expense for each af years 1 through 5 that will arise as a result of this investment opportunity. 2. Calculate the net present value of this investment opportunity. (Negative amounts should be indicated by a minus sign. Round your final answer to nearest whole dollar)