1. James and Sons Company buys a $650,000 machine to manufacture computers. The company expects to sell all it can manufacture in the next 3 years. James and Sons Company has been paying 25 % for combined federal, state, and local income taxes, a rate that is not expected during the period of this investment. The machine is expected to have a 3- years useful life with no salvage value. The company uses straight-line depreciation and 10% discount rate in evaluating capital investments. Assume, for simplicity, that MACRS depreciation rules do not apply. The projected pre-tax operating cash inflows are as follows:

Year	Pre-tax cash inflows
1	$65,000
2	80,000
3	120,000

(a). Determine the relevant ( after-tax) cash inflow each year ( that is at the end of each of the years 1 through 3).