Kids Inc. just purchased a $350,000 machine to launch its 4-year project of toy car

production.The machine will be fully depreciated to zero by the straight-line method over its 7-year economic life, and will be sold for $200,000 at the termination of the 4-year project.There is an initial net working capital investment of $80,000 that Kids Inc. can recover 92% of the amount at the termination of the project.The variable cost is $22 per toy car, and annual fixed production costs are $250,000.The expected unit price of the toy car is $40, and Kids Inc.'s marginal tax rate is 21%.The risk premium on this project is 12%, and the inflation rate and the risk-free rate are, respectively, 3% and 4%.

Calculate explicitly (step i) the annual break-even operating cash flow, and then (step ii) the minimum number of toy cars needed to be sold annually to justify the acceptance of this 4-year project according to the objective of a firm stated in the lecture materials.You are required to follow the 2-step procedure presented in the lecture materials (but NOT the goal seek function) to answer both parts of this problem.

please show all work and round to 4 decimal points. Thanks