A project has an annual operating cash flow of 65,000. Initially, this 4-year project required 6,000 in net working capital, which is recoverable when the project ends. The firm also spent 40,700 on equipment to start the project. This equipment will have a book value of 18,000 at the end of Year 4. What is the cash flow for Year 4 of the project if the equipment can be sold for 19,000 and the tax rate is 21%?

Can you use excel formulas only please