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What is the annual net income for the project

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Problem 1: George's Restaurant is considering the addition of a new refrigeration system that will cut annual food costs by $12,000. The system will cost $27,000 to purchase and install. This system is expected to have a 3-year life and will be depreciated to zero using straight-line depreciation. What is the annual net income for this project if the tax rate is 32%?

Option 1: $1,980

Option 2: $2,040

Option 3: $1,240

Option 4: $1,020

Option 5: $880

Reference no: EM132946097

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