Capital budgeting decision on new branch Initial cost of building and equipment is $1 million Expected to have a useful life of 20 years At the end of the project the building and its equipment are expected to be sold for a $200,000 salvage value The building and its equipment will be depreciated over their 20-year life using straight-line depreciation to a zero balance. The building is to be constructed on land leased for $22,000 per year Net working capital must be increased by $100,000 Annual revenues from the new branch will be $400,000 Of this $400,000 in revenues, $50,000 will be drawn away from the banks main office The new branch will incur about $130,000 per year in other expenses Both expenses and revenues are expected to remain approximately constant over the branchs 20-year life Marginal tax rate is 40% Cost of capital 9% What is the cash flow for the branchs 20-year life