Your company has been doing well, reaching $1.09 million in earnings, and is considering launching a new product. Designing the new product has already cost 5486,000. The company estimates that it will seil 786,000 units per year for $3.09 per unit and variable non-labor costs will be $1.18 per unit. Production will end after your 3. New equipment costing $1.13 million will be required. The equipment will be depreciated using 100% bonus depreciation under the 2017 TCJA You think the equipment will be obtoleto at the end of year 3 and plan to scrap it. Your current level of working capital is $295,000. The new product will require the working capital to increase to a level of $380,000 immediately, then to $396,000 in year 1, in year 2 the level will be $354,000, and finally in year 3 the level will return to $295,000, Your tax rate is 21%. The dincount rate for this project is 96% Do the capital budgeting analysis for this project and calculate its NPV Note: Assume that the equipment is put into use in year 1 Design already happened and is sunk (irrelevant). (Select from the drop-down menu.) According to the bonus depreciation schedule, depreciation In year 1 will be $(Round to the nearest dollar)