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Oregon Forest Products will acquire new equipment that fallsunder the five-year MACRS category. The cost is $500,000. If theequipment is purchased, the following earnings before depreciationand taxes will be generated for the next six years. Use Table12-12. Use Appendix B for an approximate answer but calculate yourfinal answer using the formula and financial calculatormethods.Earnings before DepreciationYear 1$150,000Year 2200,000Year 3110,000Year 492,000Year 582,000Year 645,000The firm is in a 20 percent tax bracket and has a 12 percent costof capital.a. Calculate the net present value. (Anegative amount should be indicated by a minus sign. Do not roundintermediate calculations and round your answer to 2 decimalplaces.)Net present value= ___?___