answer all questions please

2. Marge's Campground is considering adding a miniature golf course to its facility. The course equipment she wants would cost $500,000 that would be depreciated using an ACRS 8-year class, but the equipment will be sold at the end of year 4 for $250,000 and it will be replaced with a new one then. The depreciation rates for years 1-4 are 20%, 35%, 12%, and 10% respectively Marge estimates the income from the golf fees would be $280,000 a year with $100,000 variable cost. The fixed cost would be $50,000. The project will require 540,000 of net working capital which is recoverable at the end of the project. Margo also hired a consulting firm to conduct a feasibility study for the project that will cost her $50,000. Assume a 20% marginal tax rate for the company and the project's required rate of return of 12 percent. a Calculate annual operating CFs for the miniature golf facility for years 1-4. Show your work b. What is the BV of the equipment at the end of year 4? Is there a tax liability or tax credit on the sale of the equipment? Calculate total CF for year 4 including the Terminal value c. What is the IRR of this project? Would you accept this project? 3. One year ago, a U.S. investor converted dollars to yen and purchased 500 shares of stock in a Japanese company at a price of 4,000 yen per share the stock's total purchase cost was 700,000 yen. At the time of purchase, in the currency market lyen equaled $0.00952. Today, the stock is selling at a price of 3,465 yen per share, and in the currency market Sl equals 120 yen. The stock does not pay a dividend. If the investor were to sell the stock today and convert the proceeds