Margaret Daniels has the opportunity to invest $$835,000$ in a new venture. The projected cash flows

from the venture are as follows. Use Appendix A and Appendix B$.$

Margaret uses a $7$ percent discount rate.

Required:

a$1.$ Complete the table below to calculate NPV$.$ Assume Margaret's marginal tax rate over the life of the

investment is $15$ percent.

a$2.$ Should Margaret make the investment?

b$1.$ Complete the table below to calculate NPV$.$ Assume Margaret's marginal tax rate over the life of the

investment is $20$ percent.

b$2.$ Should Margaret make the investment?

c$1.$ Complete the table below to calculate NPV$.$ Assume Margaret's marginal tax rate in years $1$ and $2$ is

$10$ percent and in years $3$ and $4$ is $25$ percent.

c$2.$ Should Margaret make the investment?