What is the free cash flow in year 1?

Intro The local franchise of Jiffy Lube is thinking of buying a new lift for $70,000 that would make it easier to access the oil filter in customers' cars and save labor. The savings would increase over the project's 3-year life, in line with the projected growth of the business. The machine is to be linearly depreciated to zero and will have no resale value after 3 years. The appropriate cost of capital for this project is 14%. The company has a tax rate of 21%. Year 1 Year 2 Year 3 60,000 23,333 36,667 66,000 23,333 42,667 79,200 23,333 55,867 Cost savings Depreciation EBIT Taxes (21%) Net income Depreciation FCF