Whirlwind Cycles is owned 100% by Daniel, a single taxpayer. Both Whirlwind Cycles and Daniel use the cash method of accounting for tax purposes.

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Whirlwind Cycles is owned 100% by Daniel, a single taxpayer. Both Whirlwind Cycles and Daniel use the cash method of accounting for tax purposes. The business incurred the following items of income and expense in the year 2019: Cash Sales Interest received from City of Eugene Bonds Cost of Goods Sold (assume cash $250,000 3,000 paid in 2019) Cash payments for 2019 utilities Cash payments for 2019 rent ($1,500 per month) Tax depreciation Cash contribution to Clinton's campaign for President (not deductible for tax purposes) Daniel's 2019 after-tax cash flows 45,000 4,500 18,000 30,000 1,000 On 1/1/2017 (two years ago) Whirlwind Cycles purchased a 60-month zero coupon bond with a 6% yield and a $30,000 maturity value for $22,418 (compounded annually). Daniel's marginal tax rate is 37% before any profits from the business are considered. Calculate Daniel's 2019 after-tax cash flows from the business assuming the business is organized as a sole proprietorship and Daniel withdraws all after-tax cash flows from the business.