Lander Company has an opportunity to pursue a capital budgeting project with a five$-$year time horizon. Lander estimated the

following costs and revenues for the project:

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 $13\%.$ When the project

concludes in five years, the working capital will be released for investment elsewhere within the company.

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using tables.

Required:

Calculate the annual income tax expense for each of years $1$ through $5$ arising from this investment opportunity.

Calculate the net present value of this investment opportunity.

Note: Negative amounts should be indicated by a minus sign. Round your final answer to the nearest whole dollar.

Answer is complete but not entirely correct.