PLEASE ANSWER D$/$E$.$ Spherical Manufacturing recently spent $\backslash (\backslash$$ $12\backslash )$ million to purchase some equipment used in the manufacture of disk drives. This equipment has a CCA rate of $\backslash (30\backslash \%\backslash )$ and Spherical's marginal corporate tax rate is $\backslash (36\backslash \%\backslash ).$

a$.$ What are the annual CCA deductions associated with this equipment for the first five years?

b$.$ What are the annual CCA tax shields for the first five years?

c$.$ What is the present value of the first five CCA tax shields if the appropriate discount rate is $\backslash (8\backslash \%\backslash )$ per year?

d$.$ What is the present value of all the CCA tax shields assuming the equiment is never sold and the appropriate discount rate is $\backslash (8\backslash \%\backslash )$ per year?

e$.$ How might your answer to part $($d$)$ change if Spherical anticipates that its marginal corporate tax rate will increase substantially over the next five years?

b$.$ What are the annual CCA tax shields for the first five years?

The CCA tax shield for year $1$ is $\backslash (\backslash$$ $648000\backslash ).($Round to the nearest dollar.$)$

The CCA tax shield for year $2$ is $\backslash (\backslash$$ $\backslash )$

$($Round to the nearest dollar.$)$

The CCA tax shield for year $3$ is $\backslash (\backslash$$ $771120\backslash ).($Round to the nearest dollar.$)$

The CCA tax shield for year $4$ is $\backslash (\backslash$$ $539784\backslash ).($Round to the nearest dollar.$)$

The CCA tax shield for year $5$ is $\backslash (\backslash$$ $377849\backslash ).($Round to the nearest dollar.$)$

c$.$ What is the present value of the first five CCA tax shields if the appropriate discount rate is $\backslash (8\backslash \%\backslash )$ per year?

The present value of the first five CCA tax shields is $\backslash (\backslash$$ $2,810,499\backslash ).($Round to the nearest dollar.$)$

d$.$ What is the present value of all the CCA tax shields assuming the equiment is never sold and the appropriate discount rate is $\backslash (8\backslash \%\backslash )$ per year?

The present value of all the CCA tax shields is $\backslash (\backslash$$ $\backslash ).($Round to the nearest dollar.$)$