3.(16 pts) An asset in the 7-year property class cost $800.000, and has an estimated salvage value of $100.000 after 10 years of use. The asset will generate annual revenues of $1,300,000, and require annual expenses of $370,000 for each of its 10 years of life. Find the after-tax cash flow (assume a 40% tax rate) for this asset (just show the cash flow - you do not have to calculate PV, etc). The annual depreciation percentages for a MACRS 7-year property are Year Depr % 1 14 29 2 24 49 3 17.49 4 1249 5 892 6 892 7 8.92 8 4.46 3.(16 pts ) An asset in the 7-year property class cost $800.000, and has an estimated salvage value of $100,000 after 10 years of use. The asset will generate annual revenues of $1,300,000, and require annual expenses of $370,000 for each of its 10 years of life. Find the after-tax cash flow (assume a 40% tax rate) for this asset (just show the cash flow-you do not have to calculate PV, etc.). The annual depreciation percentages for a MACRS 7-year property are 5 6 Year Depr % 7 8.92 8 4.46 14.29 24.49 17.49 12.498.92 8.92