Your company is considering a machine that will cost $$3,757$ at Time $0$ and which

can be sold after $3$ years for $$544.$ To operate the machine, $$553$ must be invested

at Time $0$ in inventories; these funds will be recovered when the machine is retired at

the end of Year $3.$ The machine will produce sales revenues of $$1,195/$year for $3$

years; variable operating costs $($excluding depreciation$)$ will be $44$ percent of sales.

Operating cash inflows will begin $1$ year from today $($at Time $1).$ The machine is in the

$3-$year MACRS class. The MACRS class has depreciation of $33\%$ in year $1,45\%$ in

year $2,15\%$ in year $3,$ and $7\%$ in year $4.$ The company has a $30$ percent tax rate,

enough taxable income from other assets to enable it to get a tax refund from this

project if the project's income is negative, and a $10$ percent cost of capital. Inflation

is zero. What is the projects cash flow at the end of the project $($terminal value of the

project$)?$ Note, I want only the Year $3$ terminal cash flows, not the year $3$ recurring

cash flow.

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