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Assume all sales and purchases are on credit. How long is the cash cycle? (Use average balance sheet account balances.) Phil's Diner, a sole proprietorship purchased some new equipment two years ago for $32,600. Today, it is selling this equipment for $22,000. What is the aftertax cash flow from this sale if the tax rate is 35 percent? The applicable MACRS allowance percentages are as follows, commencing with Year 1:20.00, 32.00, 19.20, 11.52, 11.52 , and 5.76 percent