A Plantation Has Purchased an Automated Propagation System for $26,000

A plantation has purchased an automated propagation system for $26,000. The declining balance depreciation at a rate of 2 times the straight line rate and a $2022 salvage value are used to write off the capital investment. The company expects to realize net revenue of
$8000 each year for the next 5 years. Assume an effective federal tax of 39%, state income tax of 12.25% per year, and an after- tax MARR of 4% per year. Calculate the present worth of this investment.