A company is considering the purchase of a $400,000 piece of equipment. The equipment is classified as 5-year MACRS property. The company expects to sell the equipment after four years at a price of $100,000. The relevant tax rate is 21%. What is the after-tax cash flow from this sale?

You are planning to save for retirement over the next 25 years. To do this, you will invest $500 per month in a retirement account. The rate of return for the retirement account is expected to be 9 percent per year. After you retire, you expect that the account will have an annual return of 6 percent. How much can you withdraw each month from your account assuming a 20-year withdrawal period during retirement?