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Chung Sdn. Bhd. is considering to purchase a new welding machine. Although the machine being considered would result in an increase in earnings before interest and taxes of RM150,000 per year, it has a purchase price of RM500,000, and it would cost an additional RM5,000 after taxes to correctly install this machine. In addition, to properly operate this machine, inventory would have to be increased by RM30,000 and the workers would have to go through a brief training session that would cost RM25,000 after taxes. This machine has an expected life of 10 years, after which the salvage value will be zero. Assume the use of the simplified straight-line method to depreciate this machine down to zero, a 34% marginal tax rate, and a required rate of return of 16%. (iv) Calculate the NPV for this project. (v) We solely consider the relevant incremental after-tax cash flows when evaluating a project. As a result, we should ignore the effects of depreciation when evaluating projects as it is a non-cash expenditure." Critically evaluate this statement