A company plans to invest $25,000 in new machinery with a useful life of five years and a salvage value of $3,000 at the end of that period. Annual benefits of $6,500 are expected. The MARR of the company is 5% and it pays annual taxes at a rate of 30%. The machine is depreciated at a rate of 20%. Determine the following amounts for year 1 only:

Income, depreciation, taxes and cash flow