SHOW EXCEL FORMULAS THAT EXPLAIN HOW TO SOLVE THE PROBLEM

Mersey Chemicals manufactures polypropylene that it ships to its customers via tank car. Currently it plans to add two additional tank cars to its fleet four years from now.However, a proposed plant expansion will requireMersey's transport division to add these two additional tank cars in

3 years' time rather than in 4 years. The current cost of a tank car is $1.9 million, and this cost is expected to remain constant.Also, while tank cars will lastindefinitely, they will be depreciatedstraight-line over afive-year life for tax purposes. SupposeMersey's tax rate is

20%. When evaluating the proposedexpansion, what incremental free cash flows should be included to account for the need to accelerate the purchase of the tankcars? Show incremental CFC for Year 1 to Year 10 (rounded to two decimal places).