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3) A Municipal Sewage treatment plants equipment costs $865,000 has been purchased by a contract company duration is 7- year contract. The company uses the MACRS depreciation method for this equipment. The income tax rate is 33%, and it expects to have an after-tax rate of return of 10% for all its investments. The equipment generated an annual income of $220,000 for the first seven years. The company sold the equipment for $460,000 at the end of 7 years. Determine if the company obtained the expected after tax rate of return on this investment Edit View Insert Format Tools Table