Moore & Moore (MM) is considering the purchase of a new machine for $50,000, installed. MM will use the MACRS accelerated method to depreciate the machine, which is classified as 5-year property (see the following MACRS table for depreciation rates). MM expects to sell the machine at the end of its 4-year operating life for $10,000. If MM's marginal tax rate is 40%, what will the after-tax cash flow be when it disposes of the machine at the end of Year 4? Ownership Year Depreciation Rate 1 20% 2 32 3 19 4 12 5 11 6 6 a. $7,656 b. $8,059 c. $8,484 d. $8,930 e. $9,400