Winthrop Company has an opportunity to manufacture and sell a new product for a five-year period. To pursue this opportunity, the company would need to purchase a piece of equipment for $155.000 The equipment would have a useful life of five years and zero salvage value It would be depreciated for financial reporting and tax purposes using the straight-line method After careful study, Winthrop estimated the following annual costs and revenues for the new product Annual revenues and costs Sales revenues Variable expenses Fixed out-of-pocket operating costs $300,000 $145,000 $ 75,000 The company's tax rate is 30% and its after tax cost of capital is 15% Required: 1 Calculate the annual income tax expense that will arise as a result of this investment 2. Calculate the net present value of this investment opportunity (Round your final answer to the nearest whole dollar) 1 Annual income tax expense 2 Not presenti