Three high school friends founded a company that makes widgets. The trio are expanding and want to begin manufacturing deluxe widgets. This will require new equipment. You have the following information on this investment project, what are the after$-$tax cash flows that is expected to generate? $($my answers are in thousands$).$

$-$Cost of new machinery: $$70,000$

$-$Expected life of machinery: $5$ years

$-$Expected Salvage Value of new machinery after $5$ years: $$20,000$

$-$Depreciation method: straight line

$-$Expected sales of deluxe widgets: $$130,000$ per year

$-$Cost of raw material: $$70,000$ per year

$-$Cost of additional labor: $$20,000$ per year

$-$Additional Net Working Capital required at the start of the project: $$20,000$

$-$Tax rate: $35\%$