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Frelman Corporation is considering Investing In a project that would have a 4 year expected useful life. The company would need to Invest $168,000 In equipment that will have zero salvage value at the end of the project. Annual Incremental sales would be $520,000 and annual cash operating expenses would be 300,000. In year 3 the company would have to incur one-time renovation expenses of $96,000. Working capital in the amount of $10,000 would be required. The working capital would be released for use elsewhere at the end of the project. The company uses straight-line depreciation on all equipment The Income tax expense In year 2 Is Assume income tax rate is 30%