Problem 12-28 MACRS depreciation and net present value [LO12- 4) Oregon Forest Products will acquire new equipment that falls under the five-year MACRS category. The cost is $400,000. If the equipment is purchased, the following earnings before depreciation and taxes will be generated for the next six years. Use Table 12-12. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. Earnings before Depreciation $119,000 175, eee Year 3 120, eee 65,000 Year 5 68,eee 38,00 Year 1 Year 2 Year 4 Year 6 The firm is in a 35 percent tax bracket and has a 12 percent cost of capital. a. Calculate the net present value. (A negative amount should be indicated by a minus sign. Do not round Intermediate calculations and round your answer to 2 decimal places.) Net present value