2. A firm is considering the purchase of a new printing press machine which would have an initial upfront investment of $4,500,000 and would be expected to operate for only four years. The machine belongs to a 20% CCA class and the asset class will remain open. At the end of the project, the machine could be sold for $900,000. The machine will generate incremental sales of $1,750,000 per year and the incremental operating costs will be $1,100,000 per year. The corporate tax rate is 45% and the required return is 9%. i) What is the present value of the salvage value? ii) What is the present value of the after-tax operating cash flow ignoring the impact of CCA depreciation?