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Tax and Depreciation Example Given-Previously, CrimsonCorp was considering an investment with a first cost of $35,000 and annual savings of $9600/yr. Assume that CrimsonCorp is entitled to a 5% investmenttaxcredit on the first cost, that- pays a 34% tax on profits, and that the federal gov't classifies the lighting equipment in the "5-year" property class. ME 416/516