$1.$ You$$re considering purchasing a new limousine for your transportation services business, Miami Luxury Transportation, LLC$.$ You believe the limousine will increase your business$$s gross profit by $$36,000$ each year for the next seven years. The cost of the limousine will be $$85,000.$ For tax purposes, this five$-$year asset life vehicle will be depreciated using the MACRS half$-$year convention depre$-$ciation method $($see the MACRS half$-$year convention depreciation rate table included at figure $10\mathrm{.}1).$ You believe you can sell the limousine for $$5,000$ at the end of year $7.$ Your company is an LLC that$$s taxed like a partnership, but because the per$-$sonal income tax situations of you and your business partners are heavily im$-$pacted by what happens with the business, you and your business partners have agreed to use an income tax rate of $24$ percent when making capital budgeting decisions. As a result of the limousine purchase, your business will experience the following increases in annual expenses: insurance, $$1,500$; vehicle main$-$tenance, $$1,750$; and gas expense, $$4,800.$ Because your business can borrow money at $9$ percent, you think $9$ percent is a reasonable discount rate to use to evaluate this investment decision. a$.$ Develop a tax depreciation schedule for this proposed limousine purchase. b$.$ Calculate the EAATBs for years $17$ associated with this proposed limousine purchase.

c$.$ Determine the payback period associated with this proposed limousine pur$-$chase. Based on the results of your calculations, should you purchase the limousine$?$

d$.$ Calculate the NPV associated with this proposed limousine purchase. Based on the results of your calculations, should you purchase the limousine$?$

e$.$ Use Microsoft Excel to calculate the IRR associated with this proposed lim$-$ousine purchase