Taxes and Depreciation (Multiple investments) A project consists of 2 phases of investments: Phase 1: (beginning of year 1) Concept Investment Dep Salvage value Machinery-1 $200,000 10% $25,000 Office eq. $50,000 15% $10,000 Building $40,000 5% $20,000 Inventory $50,000 $50,000 Phase 2: (begging of year 3) Concept Investment Machinery-2 $100,000 Cranes $50,000 Dep Salvage value 10% $20,000 25% $10,000 Net income is $100,000 starting year 1 and increases at a rate of 10% each year starting year 2. Prepare the table of the Cash flows before and after taxes and calculate de PW of the project with a MARR of 15%. The tax rate is 30%. The project has a life of 5 years