Portsmouth Printing Corporation recently purchased a truck for $38,000. Under MACRS, the first year's depreciation was $7,600. The truck driver's salary in the first year of operation was $52,800. The company's tax rate is 30 percent Required: 1-a.Calculate the after-tax cash outflow for the acquisition cost and the salary expense. After-Tax Cash Outflow Acquisition cost Salary expense 1-b.Calculate the reduced cash outflow for taxes in the first year due to the depreciation Reduced cash outflow