Cardenas and Moreno Engineering is evaluating a very large flood control program for several southern U.S. cities. One component is a 4-year project for a special-purpose transport ship-crane for use in building permanent storm surge protection against hurricanes on the New Orleans coastline. The estimates are P = $300,000, S = 0, and n = 3 years. MACRS depreciation with a 3-year recovery is indicated. Gross income and operating expenses are estimated at $200,000 and $80,000, respectively, for each of 4 years. The CFAT is shown below. Calculate the AW values of the CFAT and EVA series. They should have the same value. The after-tax MARR is 9.75% and Te =35%.

Year GI, OE,S Pand S,S DS TI, S Taxes, $ CFAT, S 300,000 99,990 20,010 7,003 112,997 33,350-13,350-4,673 124,673 0 44,430 75,570 26,450 93,551 22,230 97,770 34,220 85,781 -300,000 1 200,00080,00 2 200,000 -80,000 3 200,000-80,000 4 200,000-80,000