Problem 12-25 (Algo) MACRS depreciation and net present value [LO12-4] The Surnmit Petroleum Corporation will purchase an asset that qualifes for three-yeor MACRS depreciation. The cost is $390,000 and the asset wil provide the following stream of eamings before depreciation and taxes for the next four years. Use Table 12.12 The firm is in a 40 percens tax bracket and has a cost of capital of 12 percent. Use Appenclix B for an approximate ansiwer but calculate your final answer using the formuta and financial calculator methods. a. Calculate the net present value. Note: Negotlve amount should be indicated by a minus sign, Do not round intermediate calculations and round your answer to 2 decimal places