Heald and Swenson Inc. purchased a drill press for $850,000 one year and nine months ago. The asset has a six-year life and has been depreciated according to the following accelerated schedule. The press was just sold for $475,000. The firm's marginal tax rate is 35%. Calculate Heald and Swenson's Taxable profit and cash flow on the sale. Assume depreciation is spread evenly within each year.

Year	% of Cost
1	55%
2	20%
3	10%
4	5%
5	5%
6	5%