15.

Your company is contemplating replacing their current fleet of delivery vehicles with Nissan NV vans. You will be replacing 5 fully-depreciated vans, which you think you can sell for $3,300 apiece and which you could probably use for another 2 years if you chose not to replace them. The NV vans will cost $32,000 each in the configuration you want them, and can be depreciated using MACRS over a 5-year life. Expected yearly before-tax cash savings due to acquiring the new vans amounts to $4,000. If your cost of capital is 10 percent and your firm faces a 35 percent tax rate, what will the cash flows for this project be? (Round your answers to the nearest dollar amount.)

Year	0		1		2		3		4		5		6
FCF	$		$		$		$		$		$		$