Column Time (End of Year): Price per unit of sales Annual production volume (units) 4000 4000 40.00 6000 Initial capital investment Annualized operating costs 1000 1000 1000 4000 320 Loans (i = 8%) AW of Loans Interest payment Depreciation (Single-line) Taxable income Tax payments (t = 40%) 222 2000 2000 2000 11 Net cash-flow Column Time (End of Year): Price per unit of sales Annual production volume (units) 4000 4000 40.00 6000 Initial capital investment Annualized operating costs 1000 1000 1000 4000 320 Loans (i = 8%) AW of Loans Interest payment Depreciation (Single-line) Taxable income Tax payments (t = 40%) 222 2000 2000 2000 11 Net cash-flow