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Two years ago, a restaurant purchased a grill for $600 (in $ thousands). The owner has learned that a new grill is available that will

Two years ago, a restaurant purchased a grill for $600 (in $ thousands). The owner has learned that a new grill is available that will cook twice as fast as the existing grill. This new grill can be purchased for $750 thousand and would be depreciated straight line over 5 years, after which it would have no salvage value. The current grill is being depreciated straight line over 3 years with no expected salvage value. The existing grill can be sold now for $290 thousand. The restaurant's tax rate is 24%. What would be the incremental cash flow that the restaurant will incur today (in $ thousands, rounded to one decimal place, e.g., 34.5 or -34.5) if it elects to upgrade to the new grill? If it is expected to be a net cash outflow, enter a negative sign in front of your answer.

Please show all work including how to set up in EXCEL with formulas shown. If your answer is not -481.6 please do not answer.

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