Hi, tutors! I am reviewing for my CPA exam and I thought I could use your help What happens is that I have here a problem about capital budgeting that I am trying to solve and my answer doesn't match with the suggested choices.

Here's the problem:

Levely Corporation is considering undertaking a capital project. The company would have to commit $24,000 of working capital in addition to an immediate outlay of $160,000 for new equipment. The project is expected to generate $100,000 of annual income for 10 years. At the end of that time, the new equipment, which will be depreciated on a straight line basis, is expected to have a salvage value of $10,000.

The existing equipment that would be sold to make room for the project that has a historical cost of $220,000 and accumulated depreciation of $208,000. It has an estimated remaining useful life of 2 years and the remaining carrying amount is depreciated on a straight line basis. A scrap dealer has agreed to buy it at $8,000.

The company's effective tax rate is 40%.

Required:

(1) If the project is accepted, Levely's expected net cash inflow at the end of the first year is:

(2) Levely's expected net cash inflow at the end of the final year

Please answer as soon as possible. Many thanks!