Question: Create an Excel spreadsheet for exercise 12-30 and demonstrate that the PV of the depreciation deductions, when the income tax rate is 40 percent, is

Create an Excel spreadsheet for exercise 12-30 and demonstrate that the PV of the depreciation deductions, when the income tax rate is 40 percent, is $3,218. Given an after-tax discount rate of 12 percent, what tax rate would be needed in order for the PV of the depreciation deductions to equal $4,000? Use the Goal Seek function of Excel.

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