3. Before -Tax Cash Flow (BTCF) for Kal Tech Systems in 2012 for an equipment that will be depreciated using the SL method with salvage value of $10,000. Year 2 3 5 BTCF -$120,000 32,000 32,000 32,000 32,00032,000 Market value $36,000 Calculate a. The before tax rate of return in year 2012 b. the after-tax return if the company is in the 34% income tax bracket c. The income-tax on this equipment investment in year 2012, based on depreciation recapture