You are considering the purchase of a new machine for a project. Details of this potential purchase are provided below. The project life is 3 years The machine costs $240,000 You will pay cash for half of this at time 0, and will finance the remaining half at 10% APR compounded annually over 3 years. The machine will be depreciated using a 7 year MACRS approach. Annual O&M costs of the machine are $25,000. Annual labor savings (revenues) are $100,000. Salvage Value at the end of year 3 will be $90,000. Working Capital requirement is initially $50,000. Any investment in Working Capital will be recovered at the end of the project. Assume an income tax rate and gains tax rate of 21%. Your MARR is 15%. Part (a) (32 points total for part (a)). Fill in the Income and Cash Flow tables on the next page to find the annual after-tax cash flows. Cells outlined in BOLD are grading checkpoints. These cells are the "Net income" and "Depreciation" rows in the Cash Flow Statement (3 points each - full credit or no credit), and the "NET CASH FLOW" row (2 points each - full credit or no credit).