Your company has been doing well, reaching $1.05 millon in earning? and is coneidering launching a new product Designing the new product has already cost 5481,000 . The company estimates that it will sel 788,000 units per year for $3.05 per unit and vatiabie nontlabor costs wil be $1.01 per unit Production will end aller year 3 . New equipment costing $1.13 milion will be required The oquipment will be depreclated to zero using the 7-year MACRS schodule. You plan to sel the oquipment for book value at the end of year 3 . Your curent level of working capital is $291,000. The new product wul requ ro the working capilal to increase to a level of $371,000 immediately, then to $404,000 in year 1 , in yeor 2 the level will be $344,000, and finaly in year 3 the level will refum to $291,000. Your tak rate is 21%. The discount rate for this project is 9.6%. Do the capitat budgeting analysis for this peoject and calculate its NPV. Note: Assume that the equipment is put into use in year 1 . Design akeady happened and is (irrelevant) (Select from the drop-down menu) Acoording to the 7-year MACAS schedule, deoreciation in year 1 will be $161,477. (Round to the nearest dollac.) Deprociation in year 2 wit be $276737. (Round to the nearest dollar) Deprecuation in year 3 wil be 5197637 . (Round to the nearest dollar)