Question 1 (20 points): Consider an investment project that has the life time of 10 years and requires the investment of $600,000 at time zero for machinery and equipment to be depreciated over 6 years with half year straight line depreciation method (starting in year 1 to year 7). Annual revenue is estimated to be $200,000 and annual operating costs of $50,000. $150,000 for working capital investment is also needed at time zero and working capital return is expected to equal the initial working capital investment at the end of the project (10h year). Salvage value of the machinery and equipment is expected to be zero. The minimum After Tax Cash Flow ROR is 10% and the effective income tax rate is 35%. Calculate After Tax Cash Flow, NPV, and ROR of the project. Question 2 (20 points): Calculate the depreciation for in question I using Declining Balance Depreciation method and declining balance rate of 180%, and the asset to be depreciated over 6 years. Show your work in detail for depreciation calculations please. Calculate After Tax Cash Flow, NPV, and ROR of the project and compare your results with question 1