ABC Company has new opportunity for a project, owner wants to get rid of old machine which is inefficient. Old asset has remaining book value of $170,000 with a new one costing $8,000,000. The company can continue to use its old machine for next 5 years in which case it will generate cash proceeds of $100.000 each year and will have zero salvage value in 3 years. The salvage value of the new machine after 5 years is expected to be $3,000,000 and it is expected to generate cash proceeds of S2,000,000 for each year. The tax rate is 30%. Compute the incremental OCF for first year for this project (rounded to nearest thousand) O $1,620.000 O $1615,000 O $ 1.630.000 O $1625.000