Margaret Daniels has the opportunity to invest $850,000 in a new venture. The projected cash flows from the venture are as follows. Use Appendix A and ARpendix B. Margaret uses a 7 percent discount rate. Required: a1. Complete the table below to calculate NPV. Assume Margaret's marginal tax rate over the life of the investment is 15 percent. a2. Should Margaret make the investment? b1. Complete the table below to calculate NPV. Assume Margaret's marginal tax rate over the life of the investment is 20 percent. b2. Should Margaret make the investment? c1. 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. c2. Should Margaret make the investment? Complete this question by entering your answers in the tabs below. Complete the table below to calculate NPV. Assume Margaret's marginal tax rate over the life of the investment is 15 percent. Note: Cash outfiows and negative amounts should be indicated by a minus sign. Round discount factor(S) to 3 decimal places, all otherintermediate calculations and final answers to the nearest whole dollar amount. b2. Should Margaret make the investment? c1. Complete the table below to calculate NPV. Assume Margaret's marginal tax rate in years 1 and 2 is 10 percent and in yea is 25 percent. c2. Should Margaret make the investment? Complete this question by entering your answers in the tabs below. Complete the table below to calculate NPV. Assume Margaret's marginal tax rate over the life of the investment is 15 percent. Note: Cash outflows and negative amounts should be indicated by a minus sign. Round discount factor(s) to 3 decimal places, all other intermediate calculations and final answers to the nearest whole dollar amount. Present Value of $1 \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline Periods & 10% & 11% & 12% & 13% & 14% & 15% & 20% \\ \hline 1 & 0.909 & 0.901 & 0.893 & 0.885 & 0.877 & 0.870 & 0.833 \\ \hline 2 & 0.826 & 0.812 & 0.797 & 0.783 & 0.769 & 0.756 & 0.694 \\ \hline 3 & 0.751 & 0.731 & 0.712 & 0.693 & 0.675 & 0.658 & 0.579 \\ \hline 4 & 0.683 & 0.659 & 0.636 & 0.613 & 0.592 & 0.572 & 0.482 \\ \hline 5 & 0.621 & 0.593 & 0.567 & 0.543 & 0.519 & 0.497 & 0.402 \\ \hline 6 & 0.564 & 0.535 & 0.507 & 0.480 & 0.456 & 0.432 & 0.335 \\ \hline 7 & 0.513 & 0.482 & 0.452 & 0.425 & 0.400 & 0.376 & 0.279 \\ \hline 8 & 0.467 & 0.434 & 0.404 & 0.376 & 0.351 & 0.327 & 0.233 \\ \hline 9 & 0.424 & 0.391 & 0.361 & 0.333 & 0.308 & 0.284 & 0.194 \\ \hline 10 & 0.386 & 0.352 & 0.322 & 0.295 & 0.270 & 0.247 & 0.162 \\ \hline 11 & 0.350 & 0.317 & 0.287 & 0.261 & 0.237 & 0.215 & 0.135 \\ \hline 12 & 0.319 & 0.286 & 0.257 & 0.231 & 0.208 & 0.187 & 0.112 \\ \hline 13 & 0.290 & 0.258 & 0.229 & 0.204 & 0.182 & 0.163 & 0.093 \\ \hline 14 & 0.263 & 0.232 & 0.205 & 0.181 & 0.160 & 0.141 & 0.078 \\ \hline 15 & 0.239 & 0.209 & 0.183 & 0.160 & 0.140 & 0.123 & 0.065 \\ \hline 16 & 0.218 & 0.188 & 0.163 & 0.141 & 0.123 & 0.107 & 0.054 \\ \hline 17 & 0.198 & 0.170 & 0.146 & 0.125 & 0.108 & 0.093 & 0.045 \\ \hline 18 & 0.180 & 0.153 & 0.130 & 0.111 & 0.095 & 0.081 & 0.038 \\ \hline 19 & 0.164 & 0.138 & 0.116 & 0.098 & 0.083 & 0.070 & 0.031 \\ \hline 20 & 0.149 & 0.124 & 0.104 & 0.087 & 0.073 & 0.061 & \\ \hline \end{tabular} Present Value of Annuity of $1 \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline Periods & 10% & 11% & 12% & 13% & 14% & 15% & 20% \\ \hline 1 & 0.909 & 0.901 & 0.893 & 0.885 & 0.877 & 0.870 & 0.833 \\ \hline 2 & 1.736 & 1.713 & 1.690 & 1.668 & 1.647 & 1.626 & 1.528 \\ \hline 3 & 2.487 & 2.444 & 2.402 & 2.361 & 2.322 & 2.283 & 2.106 \\ \hline 5 & 3.170 & 3.102 & 3.037 & 2.974 & 2.914 & 2.855 & 2.589 \\ \hline 5 & 3.791 & 3.696 & 3.605 & 3.517 & 3.433 & 3.352 & 2.991 \\ \hline 7 & 4.355 & 4.231 & 4.111 & 3.998 & 3.889 & 3.784 & 3.326 \\ \hline 8 & 4.868 & 4.712 & 4.564 & 4.423 & 4.288 & 4.160 & 3.605 \\ \hline 9 & 5.335 & 5.146 & 4.968 & 4.799 & 4.639 & 4.487 & 3.837 \\ \hline 10 & 5.759 & 5.537 & 5.328 & 5.132 & 4.946 & 4.772 & 4.031 \\ \hline 11 & 6.145 & 5.889 & 5.650 & 5.426 & 5.216 & 5.019 & 4.192 \\ \hline 12 & 6.495 & 6.207 & 5.938 & 5.687 & 5.453 & 5.234 & 4.327 \\ \hline 13 & 6.814 & 6.492 & 6.194 & 5.918 & 5.660 & 5.421 & 4.439 \\ \hline 14 & 7.103 & 6.750 & 6.424 & 6.122 & 5.842 & 5.583 & 4.533 \\ \hline 15 & 7.367 & 6.982 & 6.628 & 6.302 & 6.002 & 5.724 & 4.611 \\ \hline 16 & 7.824 & 7.191 & 6.811 & 6.462 & 6.142 & 5.847 & 4.675 \\ \hline 17 & 8.022 & 7.379 & 6.974 & 6.604 & 6.265 & 5.954 & 4.730 \\ \hline 18 & 8.201 & 7.702 & 7.120 & 6.729 & 6.373 & 6.047 \\ \hline 19 & 8.365 & 7.839 & 7.250 & 6.840 & 6.467 & \\ \hline 20 & 8.514 & 7.963 & 7.469 & 6.128 & \\ \hline \end{tabular}