Project 2 ACC 611 Dominic Corporation has the following information about the purchase of a new piece of equipment: Use excel and shows formula in excel Cash revenues less cash expenses Cost of equipment $380,000 per year $1,200,000 Salvage value at the end of the 10th year Increase in working capital requirements $100,000 $240,000 Tax rate 40 percent 10 years Life The cost of capital is 15 percent. b. Calculate the following assuming that the company is using the seven-year MACRS half-year convention without a salvage value: . Calculate the after-tax cash flows for each of the ten years. ii. Calculate the after-tax payback period. iii. Calculate the net present value (NPV). iv. Calculate the internal rate of return (IRR).