9. Rainbow Nails, Inc. is considering replacing an existing tinting system with a new one. The new system would allow for additional colors to be produced and would increase sales revenue by $1,100,000 per year. Additional non-depreciation operating costs would be $800,000 per year. Annual depreciation on the new machine would be 300,000, while annual depreciation on the existing machine is $240,000. Rainbow has a 30% tax rate. What is the annual differential after-tax cash flow associated with this replacement project? a $228,000 b. $304,000 c. $308,000 d. $316,000 e. $324,000