Question $4$: A company is considering purchasing equipment costing $$150,000.$ The equipment is

expected to reduce costs in years $1$ & $2$ by $$35,000$ annually, year $3$ to $8$ by $$24,000$ annually, and in year

$9$ by $$7,500.$ In year $9,$ the equipment can be sold at a salvage value of $$20,000.$ Calculate the NPV for this

proposal. $[$Hint: draw a timeline$]$ and use the cost of capital of $10\%$ to find NPV