Questions 2226 refer to the revised Lucy case listed below. You can get the answers using Lucy file and modifying it as necessary. Lucy Model discussed in the class is modified as follows: - The first Capex is $160,000 - depreciated using 5-year MACRS method This was $120,000 and used a 10 -year MACRS method. - The revenue figures should be $25,000 higher in every year. - The variable cost is now 30% of revenue. - The Fed Tax Rate has changed. The new Rate is 32%. - The firms before tax cost of capital changed - it is now 18%. - The terminal value of the project assets has changed. It is now $25,000. - All other items remain the same. 22. What is the After-Tax MARR? 23. What is the Discounted After-Tax Cash Flow for year 4 ? 24. What is the Project's Discounted Pay Back? 25. What would be the impact on NPV if the fixed expense goes down by $10,000 every year? NPV will change by $ (indicate whether this is positive or negative) 26. Let's say there is an additional Capex Required at the end of 4th year for $50,000 and it is depreciated using 7-year MACRS method. This will result in (circle the correct answer for each): Net Present Value will: IRR will: Not change Not change Increase Increase Decrease Decrease Can't be answered Can't be answered