Winthrop Company has an opportunity to manufacture and sell a new product for a five$-$year period. The company would need to purchase a piece of equipment for $$130,000$ that has a useful life of five years and zero salvage value. It would be depreciated for financial reporting and tax purposes using the straight$-$line method. Winthrop estimated the following annual costs and revenues for the new product: Annual revenues and costs: Sales revenues $ $250,000$ Variable expenses $ $120,000$ Fixed out$-$of$-$pocket operating costs $ $70,000$ The company$$s tax rate is $30\%$ and its after$-$tax cost of capital is $15\%.$ Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using tables.$$Required:$1.$ Calculate the annual income tax expense arising from this investment$\mathrm{.}2.$ Calculate the net present value of this investment opportunity. Note: Round your final answer to the nearest whole dollar.