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please show formulas thanks A small business purchases a used airplane for $1,400,000; this is considered MACRS 5-year property. The business plans to keep the

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A small business purchases a used airplane for $1,400,000; this is considered MACRS 5-year property. The business plans to keep the plane for the next 7 years. The business estimates that the equipment would generate annual time and travel savings of $350,000 per year. At the end of 7 years, the airplane would have a salvage value of $100,000. The tax rate is 23%, the aircraft is eligible for a Section 179 deduction, and that the small business uses an after-tax MARR of 10%. Compute the PW and determine whether the business should invest in the airplane. Click here to access the TVM Factor Table calculator. Click here to access the MACRS-GDS Property Classes. Click here to access the MACRS-GDS percentages page. Click here to access the MACRS-GDS percentages for 27.5-year residential rental property. $ Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is 15. Should the small business invest in the airplane? A small business purchases a used airplane for $1,400,000; this is considered MACRS 5-year property. The business plans to keep the plane for the next 7 years. The business estimates that the equipment would generate annual time and travel savings of $350,000 per year. At the end of 7 years, the airplane would have a salvage value of $100,000. The tax rate is 23%, the aircraft is eligible for a Section 179 deduction, and that the small business uses an after-tax MARR of 10%. Compute the PW and determine whether the business should invest in the airplane. Click here to access the TVM Factor Table calculator. Click here to access the MACRS-GDS Property Classes. Click here to access the MACRS-GDS percentages page. Click here to access the MACRS-GDS percentages for 27.5-year residential rental property. $ Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is 15. Should the small business invest in the airplane

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