The Jones Company has just completed the third year of a five$-$year MACRS recovery period for a piece of equipment it originally purchased for $$298,000.$

a$.$ What is the book value of the equipment?

b$.$ If Jones sells the equipment today for $$176,000$ and its tax rate is $21\%,$ what is the after$-$tax cash flow from selling it$?$

c$.$ Just before it is about to sell the equipment, Jones receives a new order. It can take the new order if it keeps the old equipment. Is there a cost to taking the order and if so$,$ what is it$?$ Explain. $($Assume the new order will consume the remainder of the machine's useful life.$)$

Note: Assume that the equipment is put into use in year $1.$