A firm purchases a new machine that costs $$10$ with installation costs of $$2.$ The equipment has a useful life of $4$ years and an estimated salvage or residual value of $$3.$ What is the annual straight$-$line depreciation for this asset? If the asset is sold after $3$ years, what is its book value at that point in time? If the asset is sold for $$7$ and the company's tax rate is $40\%,$ what is the cash flow from salvage or disposal?

ENTER THE VALUES GIVEN IN THE PROBLEM AND THE ANSWERS TO THE QUESTIONS IN THE BLUE CELLS BELOW.