Question: this question using the Financial formulas and not excel: Downtown Candies is considering replacing the equipment it uses to make chocolate candy bars. The equipment

this question using the Financial formulas and not excel: Downtown Candies is considering replacing the equipment it uses to make chocolate candy bars. The equipment would cost $721,000 and lower manufacturing costs by an estimated $270,000 a year. The equipment belongs in a 20% CCA class. The required rate of return is 14% and the tax rate is 35%. What is the increase in net income for the second year from this proposed project? $37,492 -$37,492 Correct Answer $74,984 -$74,984

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