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You are a part of a finance team in a firm, and you-were asked by your boss to estimate the annual cash flows of a

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You are a part of a finance team in a firm, and you-were asked by your boss to estimate the annual cash flows of a project. You estimated that the ammual sales and costs of this project is $150,000 and $25,000 respectively. In order to start the project, the firm needs to invest in $300,000 in new equipment including shipping and installation, and $50,000 in working capital. The life of this asset is 5 years, and the project will be terminated after 5 years of opetations. The equipmetn will depreciate via simplified straight-line method, and the estimated market value of the machine in 3 years is $20,000. The firm has a marginal tax-rate of 22%. What is the total ammal cash flow of the first year of this proiect? Round to the nearest penny. Do not include a dollar sign in your

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