XYZ is evaluating a project that would require the purchase of a piece of equipment for $560,000 today. During year 1, the project is expected to have relevant revenue of $757,000, relevant costs of $204,000, and relevant depreciation of $130,000. XYZ would need to borrow $560,000 today to pay for the equipment and would need to make an interest payment of $34,000 to the bank in 1 year. Relevant net income for the project in year 1 is expected to be $348,000. What is the tax rate expected to be in year 1? A rate equal to or greater than 32.84% but less than 55.41% A rate equal to or greater than 18.51% but less than 20.42% A rate equal to or greater than 13.71% but less than 18.51% A rate equal to or greater than 20.42% but less than 32.84% A rate less than 13.71% or a rate greater than 55.41% QUESTION 3 Tom's Tubas must raise $50000 in order to be able to buy the equipment needed for the marching band project. If Toms sells $40000 worth of stock to new investors, then which, if any, of these cash flows should be incorporated in the NPV analysis of the project? a. Cash of $30000 received from new investors today (in exchange for new shares). b. Dividend payments of $2000 per year paid to the new investors in 1 year and in 2 years(Enter a or b if any of the above and "None" if none of the above options are correct.)