Kenneth Gould is the general manager at a small-town newspaper that is part of a national media chain. He is seeking approval from corporate headquarters (HQ) to spend $20,000 to buy some Macintosh computers and a laser printer to use in designing the layout of his daily paper. This equipment will be depreciated using the straight line method over four years. These computers will replace outmoded equipment that will be kept on hand for emergency use. HQ requires Kenneth to estimate the cash flows associated with the purchase of new equipment over a 4-year horizon. The impact of the project on net income is derived by subtracting depreciation from cash flow each year. The project