Question 26 5.7 pts A 4-year project being considered by Metro Industries. The project requires the purchase of a depreciable asset that costs $1,200,000 on January 1. The new asset will replace an existing asset that has a book value of $150,000. It will be sold immediately on the same January 1 for $120,000 Metro is subject to a 40% income tax rate and rounds all computations to the nearest dollar. The company uses the net present value method to analyze investments and will employ the following factors. Period Present Value of $1 at 12% Present Value of $1 Annuity at 12% 1 0.89 0.89 2 0.80 1.69 3 0.71 2.40 4 0.64 3.04 The discunted, net-of-tax amount that relates to disposal of the existing asset (including any related gain or loss) is: O $102,000 O $150,000 O $108,000 $132.000 O $120,000