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2. A project requires the purchase (in year 0) of a machine for $229,000. The firm will depreciate the machine to zero salvage value over
2. A project requires the purchase (in year 0) of a machine for $229,000. The firm will depreciate the machine to zero salvage value over its life of 7 years. The project will also generate incremental revenue and expenses of $381,000 and $129,000 each of years 1 through 7. The firm's marginal tax rate is 17%. What is the project's incremental EBIT in year 1? Round your answer to the nearest dollar
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