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You are offered the concession for a photocopy place at a university for 3 years. You need to invest $700 in photocopying machines and expect revenues of $500 per year and expenses of $200 per year. The photocopying machines have a useful life of 5 years and a salvage value of $100 at the end of their useful life.

Since your concession is only for 3 years, you are planning to sell the machines in $200 at the end of the 3rd year.

a) Provide the complete depreciation table for the machines using the Straight-Line depreciation method.

b) Provide the Before-tax annual Net Cash Flows for this project

c) Provide the After-tax annual Net Cash Flows for this project, using the depreciation calculated in part a) and considering a tax rate of 30%