FIN3610. Inc., is planning to set up a new manufacturing plant in New York to produce safety tools. The company bought some land six years ago for 54.3 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities from a competitor instead. If the land were sold today, the company would sell for 54.6 million on an after-tax basis. In four years, the land could be sold for $4.8 million after taxes. The company hired a marketing firm to analyze the market at a cost of $250,000. Here is the summary of marketing report: We believe that the company will be able to sell 5.600.6.300.7.200, and 5.900 units each year for the next four years, respectively. We believe that $550 can be charged for each unit. We believe at the end of the four-year period, sales should be discontinued. The company believes that fixed costs for the project will be 5615.000 per year. Variable costs are 5462,000, 5519.750. $594,000,486,750 each year for the next four years, respectively. The equipment necessary for production will cost $2.5 million and will be depreciated according to a three-year MACRS schedule. At the end of the project, the equipment can be scrapped for $450,000. Net working capital of 5325.000 will be required immediately. The company has a 21 percent tax rate, and the required return on the project is 9 percent. What is the operating cash flow at Year 4? 51.732.070.00 51,757.352.50 52.074,260.00 52.140.150 $2.251,042.50