Using Hand Calculations Please!

[4 points] GM's Lockport Components facility is considering purchasing a new industrial robot to do spot welding work in its radiator production line. The robot will cost will cost $499,000 and will be generate an annual labor savings of $185,000 in the first year. Labor savings will increase by 2% each year (year over year) thereafter. Operating expenses for the robot are estimated to be $45,000 each year. The robot will be depreciated according to a 5 year MACRS schedule. GM plans to use the robot for eight years. At the end of this time the robot will be sold for 18% of the original purchase cost. Assume that this plant is subject to 21% federal tax and 6.5% New York State tax rates. 2. a) 3 points] Determine the after tax net cash flows for each year of the eight years of this project. [1 point] Should GM Lockport invest in this robot? Support your answer by calculating the net present worth of this investment. Assume that GM's MARR is 15%. b)