My neighbor, Mrs. Dubois, is the accountant for the cranberry processing plant. The plant has a piece of equipment, nicknamed Harvey that is used to clean and prepare the harvested cranberries. Mrs. Dubois needs to determine if Harvey should be replaced with a newer, better version. Using the NPV tool, we will provide her a recommendation. Facts provided: 1. Old Cranberry Cleaner (Nickname: Harvey) Cost $260.000 2. Harvey's Accumulated Depreciation $150,000 3. Cash Sales Price for Harvey $60,000 4. New Equipment Cost $448,000 5. New Equipment Depreciation (Each Year) $44,800 6. New Equipment Net Cash Revenues (Each Year) $482,000 7. New Equipment Net Cash Expenses (Each Year) $365,000 8. New Equipment Estimated Useful Life 10 Years 9. Tax Rate 40% 10. Cost of Capital 10% Step 1 A: Identify both the timing and amount of cash inflows and cash outflows a. Compute the inflows & outflows for any assets that will be sold