Determining relevant cash flows for a new boatJan and Deana have been dreaming about owning a boat for some time and have decided that estimating its cash flows will help them in their decision process. They expect to have a discretionary annual income of $23,600. Their cash flow estimates for the boat purchase are as follows: Negotiated price of the new boat $70,200 Sales tax rate (applicable to purchase price) 6.7% Boat trade-in $0 Estimated value of new boat in 4 years 39,600 Estimated monthly repair and maintenance $780 Estimated monthly docking fee $508 Using these cash flow estimates, calculate the following: a. The initial investment. b. Operating cash flow. c. Terminal cash flow. d. Summary of annual cash flow. (Note: Assume that Jan and Deana plan on selling the boat in 4 years.) e. Based on their discretionary annual income, what advice would you give Jan and Deana regarding the proposed boat purchase? **Round to the nearest dollar