View Policies Current Attempt in Progress Please view the following video before answering this question. Video Solution: 09.03-PROO2 Chevron Phillips (CP) has put into place new laboratory equipment for the production of chemicals; the cost is $1.930,000 installed. CP borrows 39% of all capital needed, and the borrowing rate is 12.6%. In the 1st year, 28% of the principal borrowed will be paid back. The throughput rate for in-process test samples has increased the capacity of the lab, saving a net of $X per year. In this ist year,depreciation is $370,000 and taxable income is $323,000. Click here to access the TVM Factor Table Calculator Click here to access the MACRS-GDS table. Parta What is the gross income or annual savings $X? $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is 150. Attempts: 0 of 3 used Save for Later Submit Answer Part b The parts of this question must be completed in order. This part will be avallable when you complete the part above. Part The parts of this question must be completed in order. This part will be available when you complete the part above