9) English Manufacturing has a three-year project that will require $630,000 for fixed assets. The project will require an initial investment of $100,000 which will be recovered in the last year of the project. The asset can be sold for $225,000 at the end of the project. The project will be depreciated straight line to zero over the three-year life of the project. The operating cash flow is $60,000 per year. The tax rate is 21% and the required rate of return is 12%. Calculate the total cash flow for the last year of the project