New equipment costs for Ibrahim Farms Ltd. is $525,000. New equipment is expected to last for 10 years with $140,000 salvage value. During this time the company will use a 30% CCA rate. The new equipment will save $70,000 annually after taxes. If the company's required rate of return is 6%, please determine the PVCCATS of the purchase and net present value of the project. Assume a tax rate of 35%. Please show all the calculations by which you came up with the final answer.