Epiphany Industries is considering a new capital budgeting project that will last for three years. Epiphany plans on using a cost of capital of 12% to evaluate this project. Based on extensive research, it has prepared the following pro forma statement: The net present value (NPV) for Epiphany's Project is closest to $75,235 $23,387 $93,546 $46,773 Cameron Industries is purchasing a new chemical vapor depositor in order to make silicon chips. It will cost $5,000,000 to buy the machine and $10,000 to have it delivered and installed. The machine is expected to raise gross profits by $4,500,000 per year, starting at the end of the first year, with associated SG\&A expenses of $1 million for each of those years. The machine is expected to have a working life of six years and will be depreciated over those six years. The marginal tax rate is 40%. What are the incremental free cash flows associated with the new machine in year 2 ? $2,665,000$835,000$2,434,000$831,667