1 Cal Lift Inc. has developed a proprietary and patented device to transfer patients into and out of hospital beds and wheelchairs. The lift will allow hospitals and other facilities to reduce the number of employees needed to move patients on a daily basis. The company is seeking $3.15 million in funding. The tax rate is 21 percent. The company has prepared the following projections. Year 1 Year 2 Year 3 Year 5 Year 4 Units Price 110 20,000 330 20,000 770 20,000 880 950 20,000 I 20,000 2,342,167 4,026,025 8,084,439 13,618,553 19,158,429 Total Expenses (excluding taxes) Using the revenue forecasts, calculate pre-tax income. Year 1 Year 2 Year 3 Year 4 Year 5