Maureen is a licensed professional engineer (PE) doing consulting work for a large flood control program for several coastal cities at risk due to rising sea levels and increasingly frequent category 5 hurricanes. One component is a 4-year project for a special-purpose transport ship-crane for use in building permanent storm surge protection against hurricanes. The estimates are P= $300,000, S= 0, n = 3 years. Gross income and expenses are estimated at $200,000 and $800000, respectively, for each of 4 years. Perform before-tax and after-tax ROR analyses. Use Te = 28% and before-tax MARR of 15% per year. What is after-tax MARR? Is the project justified?