The Port Saint John Water Park has thought about buying a new log flume ride. The equipment costs R900 000 to purchase, and installation costs an additional R56400. The equipment has a six-year expected life and will be depreciated using the MACRS seven-year class life. Management anticipates 160 rides per day, with 45 riders on average per ride. The season will last for 130 days 2 per year. The ticket price per rider is expected to be R6.25 in the first year, with an annual increase of 5%. The variable cost per rider will be R1.75, with a total annual fixed cost of R625 000. The ride will be dismantled after six years at a cost of R354 000, and the parts will be sold for R700 000. The capital cost is 8.50%, and the marginal tax rate is 25%. Use excel to a. Calculate the initial outlay, annual after-tax cash flow for each year, and the terminal cash flow. (14) b. Calculate the NPV, IRR, and MIRR of the new equipment. Also indicate whether the project is acceptable