Massey Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $640,000 is estimated to result in $270,000 in annual pretax cost savings (new profit). The press falls in the MACRS 5-year class (20%, 32%, 19.2%, 11.5%, 11.5%, 5.8%), and it will have a salvage value at the end of the project of $70,000. The Shops tax rate is 35% and its discount rate is 14%. Please set up the cash flow totals by year (format them in bold). Clearly show your calculations for the net cash flow from the sale of the machine press at the end of year four. Do not calculate NPV or IRR. For your answer, use the table below or create your own.

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