*** NO NEED TO SHOW STEPS OF WORK> JUST SOLUTIONS PLEASE ***

Courtland Corp. is considering the purchase of a new industrial washer. It can purchase the washer for $50,000,000 and sell its old washer for $38,000,000. The new washer will last for five years and save $12,000,000 a year in expenses. If the old washer is retained, it will also last for 5 more years after which it will have to be junked. The washers fall into an asset class with a CCA rate of 20 percent. Courtland Corp. owns other washing machines that also fail into this asset class. The opportunity cost of capital is 18 percent, and the firm's tax rate is 50 percent. Find the CCA amount each year for the next five years. If the salvage value of the washer is expected to be zero at the end of its five-year life, complete the following cash flow statement. What is the total present value of cash flows excluding the CCA tax shield? Total present value of cash flows (excluding the CCA tax shield) = $ ____ What is the PV of CCA tax shield? PV of CCA tax shield = $ ____ What is the project NPV? NPV = $ ____ What will the NPV be if the firm uses straight-line depreciation with a 5-year tax life? NPV = $ ____ What will the IRR be the firm uses straight-line depreciation with a 5-year tax life? IRR = ____ %