Alpha Beta Company, Inc., a manufacturer of toys, is considering replacing an existing piece of equipment with a more sophisticated machine. The firm pays $40$ percent taxes on ordinary income and capital gains. Given the following information, calculate the incremental after$-$tax cash flow $($relevant cash flows$)$ in year $1.$ Existing MachineCost $=33781$Purchased $2$ years agoDepreciation using straight$-$line method $(20\%$ depreciation each year$)$Useful life $=5$ yearsCurrent market value $=\{$B$\}$Annual cash flows $=17985$ Proposed MachineCost $=114731$Installation $=5253$Depreciation using straight$-$line method $(20\%$ depreciation each year$)$Useful life $=5$ yearsAnnual cash flows $=47676$