please show all work and steps

Question 10 (36 marks) Casino Glory Inc., an all equity firm, manufactures "lucky blazers" to assist those wanting an extra edge when pursuing gambling activities. The company is considering expanding into the "lucky silk scarves" market. The proposed expansion would last for 5 years and require the following: - Targeted door to door marketing, flyer distribution and other public relation efforts estimated to be $100,000 annually irrespective of sales volume. - Fixed costs of $80,000 annually. - Variable costs are estimated at \$1 per scarf. - Purchase of a new machine costing $200,000 with an expected life span of 5 years. The company uses straight line depreciation to a zero terminal value. The salvage value at the end of the 5th year is 0 . - The company expects to sell 10,000 scarves a year at a price of $30 for the next five years. - The new project would not change the net working capital. Casino Glory's equity beta is 1.6 . The market risk premium is 5% and the risk-free rate is 2%. The corporate tax rate is 20%. c. What is the present value break-even sales volume of the new project? (12 marks)