You bought a survey device at $600,000 at beginning of year 1 You expect to use it to generate an annual revenue of $380,000 for year 1 and increase at 4% per year. The operating expenses will be $145,000 for year 1 and increase at 3% per year. At end of year 3, you can sell the device for $260,000 and close the business. Assuming you will have an income tax rate of 30% every year and a capital gain tax rate of 15% at year 3 and you will take depreciation charge every year based on the MACRS schedule as follows: Year 1 20% Year 2 32% Year 3 19.2% Part 1 Assuming all cash investment and using a MARR of 20%, what is the Net Present Value of this 3-year business and what is the IRR? Show the results as formatted below