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2. (20 points) Ranger Inc. (RI) is considering a short term project with a few special buyers. The project is expected to last 3 years and then be terminated as this a short term investment. Fixed costs per year including rental of the building, insurance, etc., will cost $48,000 per year. The equipment for the facility will cost $360,000 and shipping and installation costs for the equipment are $25,000. Depreciation is MACRS scale as a 3 year asset (page 586 textbook). It is estimated the equipment can be sold for $110,000 at the end of the 3rd year. In order to operate the facility the company will have to train employees at a cost of $20,000 and incur additional net operating working capital equal to 0.4% of the upcoming years sales revenue. All net working capital will be liquidated at the end of the project and the company spent $50,000 last year on specialized technology research. In addition, The company's marginal tax rate is 25%, and they expect the following units sold, etc.: Year units sold Revenue per unit Costs (expenses) per unit 1 2,200,000 7.75 7.60 2 2,500,000 7.80 7.70 3 2,500,000 7.80 7.75 If the project's required rate of return is 13%, should it be accepted using the NPV criteria