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1) Suppose that an asset with a cost basis of $200,000 and with a useful life of 4 years is depreciated using 150% Declining Balance method. The asset is expected to produce net cash flows of $70,000 per year during its useful life and its salvage value is negligible. If the income tax rate is 40%, what is the present worth of the asset at an after-tax MARR of 13%? (25 p.)