Please show the formulas of how to find these answers step by step without excel spreadsheet

Pretend that your answer to the previous question was exactly $$300,000.$ If the present value of the CCA tax shield on the equipment is $$163,839,$ what would be the NAL for LNZ$?$

A$)$ $$129,828$

B$)$ $$555,341$

C$)$ $$136,161$

D$)$ $$44,659$

E$)$ There is not enough information to answer this question.

Now suppose that you are told that the lens$-$tinting equipment would bring LNZ after$-$tax cost savings of $$5,000$ per year for five years. If all other details are as given in the original question data, how would these cost savings affect the NAL for LNZ$?$

A$)$ The NAL would decrease by $$25,000.$

B$)$ The NAL would decrease by $$21,062.$

C$)$ The NAL would increase by $$25,000.$

D$)$ The NAL would increase by $$21,062.$

E$)$ The NAL would not be affected.

Please use the following information to answer the next TWO questions.

Your firm will either purchase or lease a new fabricator. If purchased, the fabricator will cost $$704,000$ and be depreciated for tax purposes on a straight$-$line basis over five years. The fabricator has no residual value at the end of the five years Your firm can also lease the fabricator for five years $($payments are made at the start of the year$).$ The firm can borrow at $15\%$ pre$-$tax.

$11.$ If the firm's corporate tax rate is $40\%,$ what would the before$-$tax lease payment have to be to make your firm indifferent between leasing and buying the fabricator?

A$)$ $$190,632$

B$)$ $$207,788$

C$)$ $$180,684$

D$)$ $$175,199$

E$)$ None of the above.

$12.$ Pretend now that your firm pays no taxes, but all other details are as given above. For the NAL to be equal to zero, what must be the total present value of all the lease payments?

A$)$ $$704,000$

B$)$ $$484,395$

C$)$ $$923,065$

D$)$ There is not enough information to answer this question.

E$)$ None of the above.

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$13.$ If a firm acquires a $$20$ million ship through an operating lease, what would happen to the balance sheet and debt ratios of the firm?

A$)$ The asset and liability amounts would each increase by $$20$ million, and the debt ratio would increase.

B$)$ The asset and liability amounts would each decrease by $$20$ million, and the debt ratio would decrease.

C$)$ The asset and liability amounts would each increase by $$20$ million, and the debt ratio would decrease.

D$)$ The asset and liability amounts would each decrease by $$20$ million, and the debt ratio would increase.

E$)$ There would be no change in the balance sheet or debt ratios of the firm.

Please use the following information to answer the next TWO questions.

Choo$-$Choo Corp. is an all$-$equity firm with a market value of $$5,200,000.$ The firm is considering a debt issue of $$3,900,000$ at an $8\%$ interest rate and will use the funds to buy back shares in the firm. There are currently $200,000$ shares outstanding and it is a perfect capital market.

$14.$ If the firm keeps its current capital structure and the EBIT is expected to be $$750,000,$ what would be Choo$-$Choo's EPS?

A$)$ $$3\mathrm{.}75$

B$)$ $$8\mathrm{.}76$

C$)$ $$15\mathrm{.}00$

D$)$ $$2\mathrm{.}19$