24. A new piece of equipment costs $500,000, and depreciated according to the 5 year MACRS schedule. Assume the equipment makes you earn 350,000 a year more, and increases the operating expenses by $100.000 annually. Assume a federal applicable tax rate of 32%. (Hint: See Exercise 7-23 in Chapter 7 Income Tax Examples, and Use Table 7-3 on the last page of this exam.). For year 2, calculate: (a) before tax cash flow (BTCF) (b) taxable income (c) taxes due (d) after tax cash flow (ATCF)