Required information The following information applies to the questions displayed below.) Manning Corporation is considering a new project requiring a $80,000 investment in test equipment with no salvage value. The project would produce $73,500 of pretax income before depreciation at the end of each of the next six years. The company's income tax rate is 30%. In compiling its tax return and computing its income tax payments, the company can choose between the two alternative depreciation schedules shown in the table. (PV O $1. EV O $1. PVA of 51, and EVA of $1 Use MACRS) (Use appropriate factor(s) from the tables provided.) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Totals Straight-Line Depreciation $ 8,000 16,000 16.000 16,000 16,808 8.000 $80,000 MACRS Depreciation $16,000 25,600 15, 360 9,216 9.216 4,608 $80,000 * The modified accelerated cost recovery system (MACRS) for depreciation is discussed in Chapter 8. 3. Compute the net present value of the investment if straight-line depreciation is used. Use 10% as the discount rate. Chart Values are Based on: Totals $80,000 $80,000 * The modified accelerated cost recovery system (MACRS) for depreciation is discussed in Chapter 8. 3. Compute the net present value of the investment if straight-line depreciation is used. Use 10% as the discount rate. Chart Values are Based on: Year Net Cash Inflow X PV Factor lue Net present value