consider the following for questions 4+40. A new product is being considered by Stanton Corp. An outlay of $40,000 is required for equipment and an additional net working capital investment of $1000 is required. The project is expected to have a 4 year life and the equipment will be depreciated on a straight line basis (equal annual amount) to a $4,000 book value. Producing the new product will reduce current manufacturing expenses by $5,000 annually and increase earnings (revenue) before depreciation and taxes by $6,000 annually. Stanton's marginal tax rate is 40 percent. Stanton expects the equipment will have a market salvage value of $10,000 at the end of 4 years. Question: Regardless of your answer to number 45 above, ASSUME DEPRECIATION = $8,000 per year. What is the project's after-tax operating cash flow during years 1-4 from the machine? 11,000 3,000 6,600 14,600 O 9,800