Showing financial statement data and stock price data for Mydeco Corp. Suppose Mydeco had purchased additional equipment for 11.7 million at the end of 2016, and this equipment was depreciated by 3.0 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.)

(millions) Year 2016

Net Income $

Additional Depreciation $

Tax Savings $

New Net Income $