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See Table 2 . 5 showing financial statement data and stock price data for Mydeco Corp. Suppose Mydeco had purchased additional equipment for $ 1

See Table 2.5 showing financial statement data and stock price data for Mydeco Corp. Suppose Mydeco had purchased additional equipment for $11 million at the end of 2016, and this equipment was depreciated by $3.7 million per year in 2017,2018, and 2019. Given Mydeco's tax rate of 35%, what impact would this additional purchase have had on Mydeco's net income in years 2016-2019?(Assume the equipment is paid for out of cash and that Mydeco earns no interest on its cash balances.)
Calculate the new net income below: (Round to one decimal place.)
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