A corporation is considering making a capital investment in a depreciable asset. If it makes the investment, the firm expects to realize an increase in operating cash flow for a future year of $44,800. The annual depreciation charge (based on MACRS) for the year is $16,040. If the corporation operates in a state where the incremental state tax rate is 4.5%, determine the change in taxable income, estimate the taxes due, and compute the after-tax cash flow for the year. The Federal income tax rate is 21.0%. [5 points]