Lander Compary has an opportunity to pursue a capital budgeting project with a flve-year time horizon. After careful study, Lander estimated the following costs and revenues for the project: The plece 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. Required: 1. Calculate the annual income tax expense for each of years 1 through 5 that will arise as a result of this investment opportunity. 2. 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. \begin{tabular}{|l|} \hline 1. Income tax expense \\ \hline Year 1 \\ \hline Year 2 \\ \hline Year 3 \\ \hline Year 4 \\ \hline Year 5 \\ \hline 2. Net present value \\ \hline \end{tabular}