Required information Use the following information to answer the next three questions: You are evaluating a project for The Dogs, that involves the purchase of a new dog biscuit making machine. The project has a three year life and you estimate the project will increase revenues by $168,000 and will increase costs by $28,000 each year. The project requires an initial investment of $120,000 which is depreciated on a straight-line basis to zero over the 3 year project life. The machine will be sold at the end of the project for $35,000. The initial net working capital investment required for this project is $16,000 which will be recovered at the end of the project's life. The tax rate is 25% and the required return on the project is 10%. What is the after-tax salvage value of the machine that will be purchased for this project? Multiple Choice $25,000 $26,250 $8,750 $35,000