The Summit Petroleum Corporation will purchase an asset that qualifies for three-year MACRS depreciation. The cost is $100,000 and the asset will provide the following stream of earnings before depreciation and taxes for the next four years: Use Table 12-12 Year 1 Year 2 Years Year 4 $50,000 $1,000 34.ee 25,000 The firm is in a 30 percent tax bracket and has a cost of capital of 9 percent. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods a. Calculate the net present volue (Negative amount should be indicated by a minus sign. Do not round Intermediate calculations and round your answer to 2 decimal places.) Net procent value b. Under the net present value method, should Summit Petroleum Corporation purchase the asset? Yes No