New$-$Project Analysis The president of MorChuck Enterprises has asked you to evaluate the proposed acquisition of a new chromatograph for the firms R&D department. The equipments basic price is $$70,000,$ and it would cost another $$15,000$ to modify it for special use by your firm. The chromatograph, which falls into the MACRS $3-$year class, would be sold after $3$ years for $$30,000.$ The MACRS rates for the first three years are $0\mathrm{.}3333,0\mathrm{.}4445,$ and $0\mathrm{.}1481.$ Use of the equipment would require an increase in net working capital $($spare parts inventory$)$ of $$4,000.$ The machine would have no effect on revenues, but it is expected to save the firm $$25,000$ per year in before$-$tax operating costs, mainly labor. The firms marginal federal$-$plus$-$state tax rate is $25\%.$a$.$ What is the Year$-0$ cash flow?b$.$ What are the project recurring cash flows in Years $1,2,$ and $3?$c$.$ What is the additional $($non operating$)$ cash flow in Year $3?$d$.$ If the projects cost of capital is $10\%,$ should the chromatograph be purchased? Please explain calculations with a paragraph