Lander company has an opportunity to pursue a capital budgeting project with a five-year time horizon. after careful study, lander estimated the following costs and revenues for the project: cost of equipment needed $ 430,000 working capital needed $ 80,000 repair the equipment in two years $ 28,000 annual revenues and costs: sales revenues $ 550,000 variable expenses $ 280,000 fixed out-of-pocket operating costs $ 120,000 the piece of equipment mentioned above has a useful life of five years and zero salvage value. lander uses straight-line depreciation for financial reporting and tax purposes. the company’s tax rate is 30% and its after-tax cost of capital is 12%. when the project concludes in five years the working capital will be released for investment elsewhere within the company click here to view exhibit 13b-1 and exhibit 13b-2, to determine the appropriate discount factor(s) using tables. required: 1. calculate the annual income tax expense for each of years 1 through 5 that will arise as a result of this investment opportunity. 2. calculate the net present value of this investment opportunity. (negative amounts should be indicated by a minus sign. round your final answer to nearest whole dollar.)