Question 7 20 Marks Your company is asked to submit a bid for watering and spraying trees in a housing development for the next five years. To provide this service, the company would have to buy new equipment for R100 000 and invest R30 000 in its working capital requirement. The equipment would be depreciated straight-line to zero salvage value over the five-year period. Total labor and other costs would be R80 000 a year. The tax rate is 40 percent and the company's cost of capital is 10 percent Required: What would be the company's minimum bid price