1. A service company purchases a fleet of trucks for house calls at a cost value of $1 million. At the end of 3 years, the company sells the truck fleet for $612,000. Assuming the companys gross income is $1.5 million annually with expenses of $1.1 million determine the after-tax cash flows for the 3 years the company owned the fleet. Assume a corporate tax rate of 21% and use the appropriate MACRS depreciation for the truck. Assume that depreciation recapture and depreciation loss is subject to the same 21% tax rate and ignore sales tax for purchasing and selling the truck.

*Please do this utilizing Excel if possible. Please show all formulas used in the Excel spreadsheet. Thank you.