$$Your company is considering a new computer system that will initially cost $$1$ million.

$$It will save $$300,000$ per year management costs.

$$The system is expected to last for five years and will be depreciated using $3-$year MACRS.$($MACRS depreciation : Year$1$ is $33\mathrm{.}33\%,$ Year $2$ is $44\mathrm{.}45\%$ Year $3$ is $14\mathrm{.}81\%$ and Year $5$ is $7\mathrm{.}41\%)$

$$The system is expected to have a salvage value of $$50,000$ at the end of year $5.$In addition, it requires $$5,000$ of net working capital throughout the life of the project.

$$There is no impact on net working capital. The marginal tax rate is $21\%.$ The required return is $8\%.$

Please show EBIT, Tax, NI$,$ OCF, NCS$,$ change in NWC$,$ CFFA with yearly schedule figure. And compute NPV and IRR.