Your company is considering purchasing a piece of equipment with a 3-year depreciable life. The equipment costs $70,000 (installed cost) and will be depreciated using MACRS 3-year recovery (33%, 45%, 15% and 7% for Years 1 through 4). The equipment is expected to have a 10-year running life. Annual sales are expected to be $47,000 and annual operating expenses excluding depreciation are expected to be $25,000 over the 10 years. If the tax rate is 35 percent, what is the net cash flow for Year 4? O $16,335 O $12,332 $14,093 0 $16,015 O $13,132