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solve in excel, step by step please 22. Drake Industries is purchasing a new chemical vapor depositor in order to make silicon chips. It will

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solve in excel, step by step please
22. Drake Industries is purchasing a new chemical vapor depositor in order to make silicon chips. It will cost $7,000,000 to buy the machine and $10,000 to have it delivered and installed. Building a clean room in the plant for the machine will cost an additional $3 million. The machine is expected to raise gross profits by $4,000,000 per year over its working life, starting at the end of the first year. Additional selling, general, and administrative (SG&A) expenses of $1 million will also be required for each of those years. The machine is expected to have a working life of seven years and will be depreciated on a straight-line basis over those seven years. The marginal tax rate is 40%. What are the incremental free cash flows associated with the new machine in year 2

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