Intro The local franchise of Jiffy Lube is thinking of buying a new lift for $80,000 that would make it easier to access the oil filter in customers' cars and save labor. The savings would increase over the project's 3-year life, in line with the projected growth of the business. The machine is to be linearly depreciated to zero and will have no resale value after 3 years. The appropriate cost of capital for this project is 13%. The company has a tax rate of 21%. Year 1 50,000 26,667 23,333 Year 2 55,000 26,667 28,333 Cost savings Depreciation EBIT Taxes (21%) Net income Depreciation FCF Year 3 66,000 26,667 39,333 Part 1 What is the free cash flow in year 1? Attempt 1/1 for 10 pts. 0+ decimals Submit