Question 1 (25 points) Your firm is planning to install a CNC machine for manufacturing finished metal parts. This machine has an initial cost of $1,125,000 and is expected to generate net income of $480,000 per year for the next 4 years. Using MACRS depreciation, $0 salvage value, a federal tax rate of 21%, a state tax rate of 3.75%, and an after-tax MARR of 8%, determine the net present worth of this investment. Year 0 1 2 Before-Tax Depreciation Cash Flow Taxable Income 3 4 Year Income Taxes After-Tax Cash Flow Present Worth 0 1 2 3 4 Net present worth