Mac Company is evaluating a capital expenditure proposal that requires an initial investment of $99,360 and has predicted cash inflows of $20,000 per year for 8 years. It will have no salvage value. If the capital expenditure is made, an old piece of equipment that is fully depreciated can be sold for $8,000.

What is the NPV for required rate of return of 10%?

What is the NPV for required rate of return of 10% with 30% tax rate?