3. A projects machine costs $170,000 today, had a 4-year life (will be depreciated as a 3-year MACRS asset: 33% for the first year, 45% for the second year, and 15% for the third year). The projects goal is to reduce costs by $55,000 per year and requires $15,000 initial investment in net working capital, but has a salvage value of $27,000 in the terminal year. The required rate of return is 13%. Tax rate is 21%. What are the annual free cash flows?